Persuasive Essay On Student Loans

Persuasive Essay On Student Loans-73
But you may not receive the full amount of a scholarship award upfront.Government grants and loans are generally split into terms that are negotiated with colleges.

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The increase in lifetime income for an Associate's degree is about half of that for a Bachelor's degree.

Students who pursue degrees in science, technology, engineering and mathematics will earn higher salaries than students who pursue degrees in art, music, history, culinary arts or sociology.

Instead, the scholarship money goes elsewhere: If a college offers you a scholarship that's a tuition discount, the bill that comes to you will have the scholarship amount credited.

Or if you get a scholarship that's a book allowance, you might get a credit at the college bookstore.

Students who borrow more than $25,000 for an Associate's degree, $45,000 for a Bachelor's degree, $75,000 for a Master's degree, $100,000 for a Ph D, $160,000 for a law degree and $215,000 for an MD are probably overborrowing.

Students who are pursuing degrees in less lucrative fields should cut these thresholds by at least one third to one half.The payback period is 2-6 years shorter for minority students than for Caucasian students because a college degree conveys more of an improvement in annual income for minority students.However, the financial value of a college education depends on the degree and the major.For example, Bureau of Labor Statistics data shows that college graduates with a Bachelor's degree had a seasonally-adjusted unemployment rate of 4.7% in July 2009, compared with 9.4% among high school graduates.These cash flow analyses consider not only the cost of education and the accrued interest on the student loan debt, but also the opportunity cost of not working while one is in college.You'll get a check to deposit into your bank account and for five minutes will feel like you won the lottery — until you turn around and write that tuition check.Student loans are usually paid out in one lump sum at the start of each school year or semester.As a good rule of thumb, students should not borrow more for their education than their expected starting salary after they graduate.Students who borrow more than twice their expected starting salary are at high risk of defaulting on their loans and will need to rely on income-based repayment to have monthly loan payments that are more affordable.Independent or service organizations sometimes choose to write you an actual check, but these scholarship amounts are usually comparatively small.Student loans, on the other hand, come directly to you.


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