Each new generation of Americans brings hope to our country. That’s why we encourage our children to pursue careers that will get them far in life and contribute to the strengthening of our nation. But a huge dilemma many students face today is if they will find a career in their fields of study and how they will pay off their student loans.
President Obama announced recently that he is proposing new laws that will help out college students with their student loans post graduation. This proposal will provide much needed relief to American workers burdened with huge student loan debt and contribute to more young people deciding to apply for federal loans so they can advance their educations. This topic should have been on the agenda years ago. Student loans are adding up faster than credit card debts, according to statistics. Statistics show that American students owe more than $900 billion in student loan debt. With loan debts continuing to increase and the job market decreasing, these factors weigh heavily on anyone considering attending college. The average college student will accrue approximately $25,000 in student loans by graduation. Graduating with a large debt and worrying about the job market are not what Americans should have to face after college.
Our future depends completely on the younger generation. Obama’s proposal will help millions of Americans struggling to pay their student loans and will encourage several more to attend college. It’s a punishment to spend the latter half of your life paying off a high interest loans to get a good education. There is no such thing as a debt free America, but we can hope for the sake of those Americans who have student loans, that there will be debt relief plan in place soon.