Getting excessive debt to further education does not sound appealing to anyone, no matter how we say it or the reward that comes with it. Student takes on the debt believing they are buying a future that may not become reality, and an increasing number are defaulting on their loans. .
I agree that the decision to borrow to attend college often amount to a financial disaster because the job opportunity is not really guaranteed. I have an aunty who furthered up to master's degree after studying Management, up till date she has no job in her professional field. She is now working as a certified nursing assistant. Life could be frustrating and depressing in this kind of situation, after the sleepless night and hard work then no job. The worst of all is that there is still unpaid student loan waiting and increasing. How will the debt be paid when no job is forth coming? Whether or not it is worth it to go to college and accumulate debt is a constant battle.
Excessive debt can ruin someone for life, no matter the reward. Working a forty hour a week job, only to have bills and enrollment cost consume my entire check definitely makes this a tough decision. The project on student debt found out that "from 2008 to 2012, above half of graduating seniors had loan debt, with an average of $29,400 per borrower. Debt at graduation (federal and private combined) increased an average of six percent each year." An increasing numbers are defaulting on their student loan due to the fact that they are not making enough money which is unable to pay the loan. Lauren J. Asher, acting president, the project on student debt states, "more college student graduates are carrying unmanageably high student–loan debts of at least $40,000" (261). .
According to the statement it becomes a lifetime burden, threatening success at every turn. Due to the huge debt incurred it affects other aspect and area of life like buying a house, car, going for vacation, entertainment etc.