...Summary This article called Generation Debt by Anya Kamenetz is about how each youth that is coming up to adulthood is in greater debt than ever before. Generation is the people who grow up in the same time period. In the generation before us sexual maturity happened earlier in life about one to years before marriage, but now sexual maturity happens much later in life. In the 19th century ages 13 and up worked on machines and such to contribute to their families financial situations and because of that they matured at a much younger age. Roosevelt created the New Deal which took away many of the jobs for the youth of that century and because of the New Deal today’s youth is so accustom to going to school and not having a part time job. Since...
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...While in High School, students are often encouraged to by others to go to college after graduating. Majority of parents claim that they want their child (or children) to go to college, yet most are unsure of if the debt of college is worth it for their child/children’s education. Ever since inflation occured between the previous generation and this current one, many students who want to go to college are intimidated by the overall cost. These obstacles can even make students to consider not going to college at all, where they could possibly get a job at a torn down liquor store that barely pays above minimum wage. Students should go to college to get more job opportunities, and to eventually raise overall economy. Some people may argue that non-graduates are capable of getting a job without wasting their time on college. Although this is true, most of these people fail to realize that students have significantly less...
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...to do but it’s not. If you take out student loan debt there is a good chance you’ll be paying on it long after you graduate. Thats why its a good idea to try and pay for it other ways. Over all people think debt is okay because it’s getting you a higher education, but it’s not worth going into debt. Tuition has become so expensive it seems nearly impossible to pay for it without going into debt, but there are ways to make it happen. Such as starting early, save as much as you can whenever you can, save the money you get from christmases and...
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... leading to costly consequences upon graduation. According to the Project on Student Debt at The Institute for College Access & Success (TICAS) in the college graduate class of 2011, two-thirds had an average of $26,600 in student loan debt upon graduation; at the same time the unemployment rate among new graduates was at 8.8 percent ("Average Student Debt Climbs to $26,600 for Class of 2011"). As a result, thousands of new graduates are forced to face huge amounts of debt on student loans that they cannot pay, immediately after graduating. There has been talk on Capitol Hill about federal loans to help graduates with their debt. Government involvement to fix the problem seems very retroactive considering that universities could and should have taken a more proactive approach. Universities must better prepare their students for the foreseeable financial hardships they could face upon graduation by providing mandatory financial planning counseling to all students. Without proper counseling and direction, it is very easy for students to make big mistakes when it comes to seeking financial assistance to pay for college. All too often students fail to seek out student grants and scholarships available to them because of lack of assistance. They often seek advice from their schools first, only to be told to seek assistance elsewhere. Sadly, it is much easier for students to take out loans than it is to...
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...I agree with you and think the biggest challenge to face the United States of America is the national debt. You made great points in regards to the national debt being the most challenging issue in America. Have you ever watched the United Stated of America national debt clock online? It is unbelievable to watch and witness how America’s debt increases by the second. It is saddening to watch our great country fall deeper into debt and see it is no where close to getting out of it. This is a topic people hardly discuss and if people become more educated on the economy then the process for getting out of debt could come faster since a vast majority of people will want an immediate action to be done by the government. Although, when politicians...
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...3, 2, 1: Global Debt Meltdown We are steamrolling toward a massive global debt meltdown, and at this point world leaders seem to be all out of solutions. Over the last 30 years or so, the greatest debt bubble in the history of the planet has produced unprecedented prosperity in the western world. But now that debt bubble is starting to burst and the bills are coming due. Many believe that "ground zero" for the coming global debt meltdown will be in Europe. Unlike the U.S. and Japan, the nations of the EU can't just print more money to cover their debts. Nations such as Greece, Portugal and Italy must repay their debts in euros, and those nations are rapidly getting to the point where their debts are going to overwhelm them. Unfortunately, major banks all over Europe are very highly leveraged and are also very heavily invested in the sovereign debt of nations such as Greece, Portugal and Italy. If even one EU nation defaults it will start tipping over financial dominoes. If more than one EU nation defaults it could cause a cataclysmic wave of bank failures all over Europe. But Germany and the other more financially stable countries of the EU cannot bail out nations like Greece, Portugal and Italy indefinitely. Pouring money into Greece is like pouring money into a black hole. When you take money from financially stable countries and pour it into hopeless messes, you may stabilize things for a little while, but you also cause the financial condition of the financially...
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...or not? Paying thousands of dollars to not have a job graduating out of college is a struggle most college graduates are going through. People spend four to five years in college busting their butt trying to make something out of your life. Even though there is a lot of hardship with the outlook on college, but I feel that college is not worth the gamble. There are lots of key reasons why college is not worth going to. Mostly because of taking out student loans, potentially not having a job after graduation. When going to college you tend to become very depressed and overwhelmed. The student loan borrowing...
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...Can You Afford To Go To College? It is unfortunate that many students and their parents will pinch pennies and borrow heavily to pay for a good college education. For many families obtaining a college degree is very important to them no matter how much debt they are put in. Applying for federal student loans is becoming the norm to cover the cost of obtaining a college education. Students have to borrow more and more money to cover the cost of higher college tuition rates. Currently, the interest rate for a Federal Stafford Subsidized and Unsubsidized student loans is at 3.4 percent, however, as of July 1, 2013, the interest rates on Federal Stafford student loans will significantly increase from 3.4 percent to 6.8 percent making it even more expensive for students to pay for college this fall. President Obama is working with Congress to keep the student loan interest rates down to 3.4 percent to keep it affordable for students (Lucas, 2012). So what is the problem? If Congress doubles the federal student loans interest rates, students will not be able to afford to pay for college. And college is sometimes not the only thing that students have to deal with. Student loans can put students with long-term burdens and stresses that in the future may affect their choice in jobs. Many students have to take care of other monthly bills like electricity, water, phone, rent, and possibly a mortgage. Nearly 10% of federal student loan borrowers failed to make a payment on their...
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...people may find themselves in the financial position of having more debt than they can realistically pay with their income. There are several reasons people get in over their heads in debt and some of these reasons are good for getting debt settlement. The best way to start reducing the amount they have to pay is to send a debt settlement agreement letter to their creditors. The letter needs to clearly state the hardships that have caused the debtor to be unable to pay his or her debt. The person will not be successful in reducing his or her debt if they say they made too many purchases and now they can’t pay for them. There are several legitimate hardships for getting behind on debt payments including: • Illness or injury that precludes...
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...Sleep debt In students’ life, it is common to stay awake all night to study or to write a paper. Students themselves consider this as pressed by competing schedules. Actually, students who have to spend their time cramming for an exam are a result of Boomerang. They spend their time which supposed to study by playing computer games, dazing, or just browsing the internet. They mistakenly believe that by ignoring the need to sleep could eventually make up the time they have wasted previously, as result; they could do well on the exam next day. It is understandable to think in that way. Because students do make an effort to achieve their goal, which is a higher grade they desire. After preparing for 24 hours staying awake, students went to the classroom confidently. They believe that their efforts would pay back. However, the result could be unbelievable. There was once a research done by participants from 44 college students. It turns out that sleep-deprived participants performed significantly worse than the no deprived participants on the cognitive task. However, the sleep-deprived participants rated their concentration and effort higher than the nondeprived participants did (June, Amy 512). This was exactly the same as what students who spend their whole night preparing an exam think. They believe they put more effort compared to students who sleep well before the exam day. It indicates that college students are not aware of the extent, to which sleep deprivation negatively...
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...December 11, 2014 Final Paper Introduction Credit Card debt and college student debt are problems that must be addressed now. We are seeing to many people suffer from both since they are misinformed and not educated about either. I got my first credit card when I was 18 years old. My parents taught me to be careful with my card and if I wasn’t they would cut me off immediately. Unfortunately people are now getting credit cards earlier and parents are not teaching kids how to use credit cards correctly. According to a study, “50.9% of students had debt before college” (Jones 2005). This means over half of the people entering college already are in some type of debt. Students must be educated before college so we can alleviate the amount of students in debt. Graduating students are “leaving college with $20,402 in education and credit debt” (Robb and Sharpe 2009). This results in people trying to dig themselves out of debt for their whole life. The average student also has “4.25 cards in their name” (Davidson, 2004). This is part of the reason why students are accumulating so much debt since they don’t know how to properly manage credit cards. This is because students have a low degree of financial literacy. This means that students don’t know the true value of money and as a result spend more than they have. We can see this by the amount students are using their credit cards. Not only are students getting in debt, but it is also having social impacts. The social impacts are...
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...The Morningstar video discusses the topic of securities market and financial opportunities. Wealth stock and investments are a few of the Things mentioned in the video. Moring star is a financial research service that provides its readers what up to date, information on stocks, bond, etc. Joe Matsudo the founder of Morningstar talks about how he, in 1984 was working as a stock market analyst in Chicago. With the knowledge and passion for financial services, he started Morningstar. Joe states that in his first year he made $100,000 in sales and in the last year he made over 25 million. They discuss how they have 130 stock and bond analysts researching for way below what professionals would have paid a decade ago. Buying stock is like buying...
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...Are Debtors Digging Their Own Graves? Who Is At Fault For Credit Card Debts? Americans have become more and more dependent on credit cards, a rapidly growing issue. Although some may disagree, the problem with the credit card industry is not the creditors. It is actually the cardholders. The fault lies within the consumers that do not fully understand their financial circumstances therefore, spending beyond their ability to repay their debts. Having a line of credit should be a convenience, not a must. Reliance: Credit cards have become a necessary part of our everyday lives that we all have and use at some point. However, it is mind-boggling to think that many will use credit to make purchases knowing they cannot afford it. "Even as...
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...Soyeon Oh College English 1110-04 Professor MimiVan Ausdall April 10, 2013 The College Dilemma In the U.S., having a college degree is the most important qualification for getting a skilled job position. Many young people want this kind of position because it is usually higher paying. Employers expect candidates to have at least a Bachelor’s Degree for any entry-level position, but the cost of tuition today is the highest ever. In the past, recent college graduates generally had an easy transition from school to starting a full time job. Today there are fewer jobs and more college graduates competing for those jobs. According to a USA Today article, “half of new graduates were jobless or underemployed in 2012” (USA). Because of this, university tuition should be lowered and student financial aid increased so that young people are not burdened with huge debt. The number of people who want to get a college degree is higher and higher every year. According to the National Panel Report, 75% of high school kids answered that they want to go to college right after graduating high school. It’s not only for high school kids, but also adults who want to go back to school to get a degree to continue their professional development (We). They expect to get a job with better benefits from getting a degree. Some students would say that they want to go to college for more education, but most students want to go because it will help them to get a job in the future. They realize that...
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...Student Name | Fernande Dasilva | Course and Section Number | Program of Study | FIN 1103 | Business Administration | Finance FIN 1103 Week 5 Individual Work Reducing Expenses to Buy a New Car and Considering Debt Consolidation Assignment Instructions | To complete this assignment: 1. Answer all of the questions below in the space provided. 2. Reflect on the information presented in this week’s lesson and provide an insightful response to each question writing no more than two paragraphs. | Save and Submit to Dropbox | 1. Save your work as a Microsoft Word 2010 (.docx) file that includes your name, course code, and title in the file name. For example: JaneSmith_FIN1103_Week5.docx. 2. To submit your assignment, go to the Dropbox and click "Submit Assignment." 3. Click on the drop-down menu to select the Week 5: Individual Work basket in the Dropbox. | Objective: Compare financial alternatives for major purchases Locate the Financial Planning Exercises on page 194 of your textbook. Financial Planning Case 4: Reducing Expenses to Buy a New Car | Courtney Bennett recently graduated from college and accepted a position in Manhattan, Kansas, as an assistant librarian in the public library. Courtney has no debts, and her budget is shown in the first column of Table 6-2. She now faces the question of whether to trade in her old car for a new one requiring a monthly payment of $330. Taking the role of a good friend of Courtney, suggest how Courtney might cut...
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