Student Loan Essay, English Composition Writing on
Student Loan,
About Student Loans
Essay 1: Are Student Loans Too Costly?
The first lesson of economics is scarcity. There is never enough of
nothing to fully satisfy all who does want it. However, the first
lesson of politics are to disregard the first lesson of economics.
When politicians discover a group who is vocal about the lack of
something they want. The ¡°solution¡± will be to give them more. Where
does ¡°more¡± come from?¡ªpoliticians who rob Peter to pay Paul.
After a while, of course, we discover that Peter doesn¡¯t have
enough. Bursting with compassion. Politics rush to the rescue.
Needless to say, they do not admit that robbing Peter to pay Paul
will be a dumb idea in the first place. On the contrary, they now
rob Tom, Dick, and Harry to help Peter.
The latest chapter in this long-running saga is that politicians
have now suddenly discovered that college students graduate heavy in
debt. To politicians it follows, as the night follows the day, that
the government ,ay come to the rescue with the taxpayer¡¯s money.
How big is this crushing burden of college students¡¯ debt that they
here so much about from politicians and media deep thinkers? For
those students who graduate from public colleges owing money, the
debt averages a little under $7,000. For those who graduate from
private colleges, the average debt is a little under $9,000.
Buying a very modestly priced auto involve more debt than that. And
a car loan has to be paid off faster than the 10 years that college
graduates get to repay his/her
. Moreover, students will
keep buying cars several years, while one college education
last a lifetime.
College graduates, of course, earn higher incomes than other people.
Why, then, should we panic in the thought that they have to repay
loans, for the education giving them their opportunities?
Even graduates with relatively modest incomes pay fewer than 10
percent of there annual salary on the first loan the first year¡ªwith
declining percentages in future years, as their pay increased.
Political hysteria and media hype may focus on the low-income
student with a huge debt. This is were we get our heart-rending
stories¡ªeven if they are not all that typical. In reality, the
soaring student loans of the past decade have not resulted
from allowing high-income people to borrow under government
programs.
Before 1978, college loans were available through government
programs only to students whose family income was below some cut-off
level, who was about double the national average income, but at
least it kept out the Rockefellers and the Vanderbilts. But, in an
era of ¡°compassion,¡± Congress left off even those limits.
That opened the floodgates. No matter how rich one was, it still
paid to borrow money threw the government at low interest rates. The
money parents had set aside for their children's education
can be invested some where else, at higher interest rates. Then,
when the student loan became due, parents can pay it off with
the money they had set aside¡ªto pocket the difference in interest
rates.
To politicians and the media, however, the rapidly growing loans
showed what a great ¡°need¡± there was. The fact that many students
failed to pay when time came to repay their loans showed how
¡°crushing¡± their burden of debt has to be. In reality, those who
don¡¯t pay typically have smaller loans but have dropped out of
college before finishing. People who are irresponsible in one way
are always irresponsible in other ways.
No small amount of the deterioration of college standards has been
due to the increasingly easy availability of college to people who
are not very serious about getting an education. College is
not a bad place to hang out for a few years, if someone has nothing
better to do, especially if je/she is paying for it. Its costs are
staggering, but the taxpayers carry much of that burden, not only
for state universities and city colleges, but also to an increasing
extent even for ¡°Private¡± institutions.
Numerous government subsidies and loan programs make it possible for
many people to use vast amount of societies¡¯ resources at low cost
to themselves. Whether in money terms or in real terms, federal aide
to higher education increased several hundred percent since
1970. That has enabled colleges to raise their tuition by leaps and
bounds and enabling professors to be paid more and more for doing
less and less teaching.
Naturally, all these beneficiaries are going to create hype and
hysteria to keep more of the taxpayers¡¯ money coming in. But we
would be fools to keep on righting blank checks for them.
When we way the cost of things, in economics. That¡¯s called
¡°trade-offs¡± in politics, it¡¯s called ¡°mean-spirited.¡± Apparently,
if we just assumed a different attitude, scarcity would go away.
¡¡
Essay 2: Should Taxpayers Relieve Students of Loan Commitments
¡°Why should UK taxpayers support you for three years to read novels,
write poems or play with words?¡±
As I approach the final few months of my three-year BA English
degree with QTS Secondary Education it seems appropriate for
me to place my fingers on my keyboard and take stock of my time at
university. The dates of my graduation ceremony in summer have been
posted up on the university website; although I have several arduous
assignments to complete before I can don a gown and cap, a teaching
job awaits me at a well-renowned school in September. Friends will
soon delight in being able to poke fun at my reinstated tax-payer
status whilst moaning over my inflated holiday allowance. My
previous career will eventually be forgotten in the need to write
lesson plans and produce interesting and illuminating activities for
the classroom. Perhaps, in a few years¡¯ time, I might only remember
my university years as a means to an end - a caesura in the middle
of a line of a stanza which addresses my life? A brief footnote in
my memoirs? No.
These last three years have stretched and challenged my mind in
exactly the way I wanted when I sent off my university application.
Invited and asked to defend my opinion in seminars, I have developed
confidence in my critical reasoning where there was previously
little. Slowly - but eventually - I reconciled my ¡®9 to 5¡¯ work
mind-set with the notion that a day and night¡¯s research and reading
for an essay was not a waste of time. In short, I embraced
education... and it has enveloped me.
As a mature student, it had been over twenty years ago since I had
last felt the fear which comes when somebody whispers the word
¡°exam¡± in your presence. I had long been a passionate and informed
reader but feared I would struggle to unravel a Renaissance sonnet.
I might have inherited the gift of the gab from my mum but could I
tell the difference between ¡®anaphoric¡¯ and ¡®cataphoric¡¯ in an
English language seminar? Could I refrain from thinking of girls
named Anna who own tabbies? Over time, these fears faded, as did my
other old preconceptions on education. For example: learning
environments can now be virtual - there is no need for chalk and
dusters nowadays; and teachers, sorry, tutors never ask you to copy
out of a book. They impart knowledge and feelings instead, and give
off an addictive air of appreciation, making a powerful contribution
to the emotional and intellectual make-up of this soon-to-be
newly-qualified teacher.
Although I will soon be a graduate and will no longer need my
library ID (showing the grinning face of a man who might have read
Arthur Miller but who had no idea of Brecht or Ibsen¡¯s work or what
it is like to have actually written a play), I will always be a
student... of sorts. The ¡®University of Life¡¯ which my mother and
father graduated from some years ago with honors will now have to be
expanded to make room for the lifetime of study that I started three
years ago and will now pass on in illuminated dribs and drabs.
Perhaps while they are clearing the ground for my foundation stone,
they should clear a space for others? Maybe someone reading this
essay... perhaps someone wondering if they are cut out for the
¡®student experience¡¯?
Immediately after leaving my former career, and before entering
university, I underwent a six-month stint as a volunteer English
teacher in Ghana, West Africa. I saw at first-hand the trials and
tribulations of instructing children in life, literature and
language, and I learned much about myself through the generosity of
the Ghanaians I met and befriended. I felt ready to teach English.
Returning to the UK, I was glad to be able to receive a student
loan
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Black is student's original writing
Blue is teacher's correction
Red is teacher's explanation