Student Loan Costs Are Too High
Start writing a post
Student Life

Student Loan Costs Are Too High

My take on the skyrocketing price of a college education

16
Student Loan Costs Are Too High
Odyssey

September is officially upon us, and so is the need to shell out thousands of dollars for tuition.

As I wrote my eCheck online and paid the University of Kansas probably all of what I earned working this summer for just one semester of tuition, a lingering thought popped back into my head: Why is college, and more specifically, why are student loans, so damn expensive?

When most of my peers were choosing their colleges, cost was one of the major factors. College is the expected next step after high school, but what happens when someone can't afford it? It absolutely sucks that some of the brightest students can't continue their education simply because of the cost.

According to Institute for College Access and Success, the average student graduates with nearly $30,000 in student debt. There are many loans available, however, not all are created equal. The most popular loan is the federal Stafford Loan; offered on both subsidized (the Federal Government pays the interest while the student is in college) and un-subsidized (interest begins to accrue as soon as the loan is taken out) levels. The second type of loan are most popular because they are not based on financial need and can be taken out by anyone. Not every student will qualify, but for those with a much larger financial need, a Perkins Loan is the next most common option. These loans receive a lower interest rate and the interest is paid while the student is in school.

I honestly knew nothing about student loans until they became prevalent in my life and the lives of others. The cost of education keeps gradually rising, while the cost of living does not. Student loans are given to cover the price of a college education, but many graduates work for years and years to pay it off.

Undergraduate tuition at Kansas is nearly $10,000 for instate residents and $25,000 for nonresidents. Tuition alone is expensive enough excluding room and board and simply the cost of living. Plus, if you want to go to any kind of graduate school, that's a whole other ballgame.

It's normal for a college student to be "broke" and only survive on Ramen Noodles and Mac n' Cheese. But, nowadays, the cost of an education can haunt someone until they have children of their own, and I just don't think that's fair. Don't get me wrong, college is a wonderful thing; the cost is just such a negative. Families are often stuck between a need for post-secondary education and a lack of resources, causing them to seek larger student loans. It's a vicious cycle but unfortunately is something we have to live with for now.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
​a woman sitting at a table having a coffee
nappy.co

I can't say "thank you" enough to express how grateful I am for you coming into my life. You have made such a huge impact on my life. I would not be the person I am today without you and I know that you will keep inspiring me to become an even better version of myself.

Keep Reading...Show less
Student Life

Waitlisted for a College Class? Here's What to Do!

Dealing with the inevitable realities of college life.

84804
college students waiting in a long line in the hallway
StableDiffusion

Course registration at college can be a big hassle and is almost never talked about. Classes you want to take fill up before you get a chance to register. You might change your mind about a class you want to take and must struggle to find another class to fit in the same time period. You also have to make sure no classes clash by time. Like I said, it's a big hassle.

This semester, I was waitlisted for two classes. Most people in this situation, especially first years, freak out because they don't know what to do. Here is what you should do when this happens.

Keep Reading...Show less
a man and a woman sitting on the beach in front of the sunset

Whether you met your new love interest online, through mutual friends, or another way entirely, you'll definitely want to know what you're getting into. I mean, really, what's the point in entering a relationship with someone if you don't know whether or not you're compatible on a very basic level?

Consider these 21 questions to ask in the talking stage when getting to know that new guy or girl you just started talking to:

Keep Reading...Show less
Lifestyle

Challah vs. Easter Bread: A Delicious Dilemma

Is there really such a difference in Challah bread or Easter Bread?

51048
loaves of challah and easter bread stacked up aside each other, an abundance of food in baskets
StableDiffusion

Ever since I could remember, it was a treat to receive Easter Bread made by my grandmother. We would only have it once a year and the wait was excruciating. Now that my grandmother has gotten older, she has stopped baking a lot of her recipes that require a lot of hand usage--her traditional Italian baking means no machines. So for the past few years, I have missed enjoying my Easter Bread.

Keep Reading...Show less
Adulting

Unlocking Lake People's Secrets: 15 Must-Knows!

There's no other place you'd rather be in the summer.

986333
Group of joyful friends sitting in a boat
Haley Harvey

The people that spend their summers at the lake are a unique group of people.

Whether you grew up going to the lake, have only recently started going, or have only been once or twice, you know it takes a certain kind of person to be a lake person. To the long-time lake people, the lake holds a special place in your heart, no matter how dirty the water may look.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments