Business Reflection #6: Average Student Debt Difficult to Pay Off, Delays Life MilestonesDate: March 11th, 2014http://www.cbc.ca/news/canada/average-student-debt-difficult-to-pay-off-delays-life-milestones-1.2534974
As a second year college student, I understand the huge amount of cost it is for secondary education. But as a teenager, I didn't realize how difficult paying off an average Canadian graduate debt load really would be. In the article I read from CBC news, it tells us the story of an average Canadian University graduate Brittany Verge who is 5 years out of University and still struggling with the debt of student loans. High debt loads are not only a financial stress but can delay the time it takes individuals or couples to reach certain milestones, such as having children, getting married or owning property, according to recent research in North America.
Being 19, this makes me worry about my future. wanting to have a family, get married and own property someday and not having the chance to do this because of secondary schooling debt makes me angry. should today's society be forced to not get these milestones because they chose to go to college? what do you think?
I actually feel the exact same way, I know of a few people, one in particular that has been paying off-and still paying off- her student loan which was around 10 years ago that she had gotten it. I worry about my son having a huge student debt to pay back too; the good side to that is that I know about how long it takes (or could take) to pay if off so I started saving money for him when he does decide to go to university or college. I want him to be able to take what he wants and be that somebody, not worrying about loans and debts that he could be paying off for years
ReplyDeleteIt is a struggle to be burdened by student debt. But, society needs us to achieve higher education because it is a competitive economy. There are options to receive student relief programs which can lower the amount of financial stress. You could spend years paying off this debt, or you could be proactive and take 2 or 3 days and fill out scholarships..... the benefit could relieve years from your financial stress. It's not like students aren't aware that you have to pay loans back, so be smart and evaluate appropriately.
ReplyDeleteI find it sickening how much an education costs. In this day and age, it is very difficult to obtain a well paying job without having any education; an education is necessary to succeed in this world. It is so strongly encouraged for students to go on to collage and university right after high school. These people are 18 years old and expected to decide what they want to do for the rest of their lives and do not even realise the amount of debt school will bring them; they can only hope they picked the right career path. I strongly believe that our high schools should be educating students on the seriousness of their decisions when it comes to secondary education. I am glad that I waited 2 years before deciding to take this course; I was pushed by family to go to school right after high school. If I would have given in instead of standing up for my decision to wait, then I would be at UNB, in a lot of debt, taking a course I have no interest in.
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