Lancaster, Rachel: Credentialing

            A very large percent of college students nowadays have not only scholarships but also student loans, a situation that can be good for the students but that can also become a liability. With these loans students are able to obtain their college degrees, but they may start their lives after college with large debts. “Student debt in the United States now exceeds $1 trillion,” say the editors of “Death by Degrees,” confirming how many students have to begin adulthood owing money. In addition, if they are not able to pay back the money or pay it late, it will affect their credit. This will affect their whole lives by ruining their line of credit, which is related to nearly everything else. Also, the price of college tuition is not getting any cheaper making the amount of student loans increase drastically. “College tuitions are nowhere near their limit; as long as access to the workforce is controlled by the bachelor’s degree, students will pay more,” the editors state. Since the cost of college is going to steadily increase, the more loans will be acquired, and the amount of debt will increase. The editors’ talk about the fact that since the work force revolves around a bachelor’s degree, students will continue to attend college even if they must go into debt. Furthermore, student loans are the only loans that cannot be forgiven. Other loans can be forgiven in bankruptcy, but this does not apply to student loans. 

            Going to college to get your bachelor’s degree or beyond can be extremely expensive. In the world nowadays a college degree is very necessary. Without a college degree, one can still make a living, but it is a lot more of a struggle. Therefore, I would still attend college even if I were unable to pay the tuition resulting in me applying for student loans or grants. Luckily, my college experience has been almost fully paid for. I am very fortunate to be given many different scholarships through Southern Arkansas University and outside scholarships that almost pay my amount fully. Without these student loans, I might have to graduate college knowing that I owe money.