Loans Should Not Hurt Families
TRINITY DURAN Staff Writer
One of the main reasons why some students decide not to go to college is the fact of how badly it impacts their families financially.
Going to college is not cheap, which is why many families try their absolute best to ensure that they have enough money. Loans are very expensive to pay off and soon take a huge toll on families just to manage. There should be more options provided to families such as low cost tuition or free college that help to prevent these problems.
Many jobs that have good financial support require a college degree. It is hard to make a living in this world. As time goes on, the demand for good paying jobs that require more than a high school diploma is constantly growing.
For most first generation college students, it is very difficult for their families to be able to invest in college. All families want their children to succeed and to be able to head into college, though the possibilities are hard to accomplish at times. There is always a constant pressure on families about sending their children to college, however the expensive tuition has been an obstacle. With the overbearing amounts of tuition fees it has fundamentally shaped families as a whole along with the view they have on colleges.
Families go to great lengths just to provide for their kids, some even take up jobs that are unsafe and work long hours just to ensure that their child does not have to struggle. This does not just affect the college students. The impact it has on families is much greater. Money does not come easily and it usually takes more than one person to help pay these loans.
Parents and grandparents in some cases use most of their savings and some from retirement funds just to help pay off even a part of the loans. The aftermath affects the families with having less money in their savings account which makes it harder for them to be prepared for anything that happens in the future, let alone younger siblings who may also want to go to college.
It is hard, especially for middle class families, due to the fact that they may not even qualify for some of the financial aid provided. This can leave them feeling helpless and only having two options left: to take out loans or not to send their child to college.
With fewer and fewer options, some students are likely to choose not going to college at all in order to avoid overburdening their families or themselves with debt. Regardless of what decision is made, the choice will always have consequences for families.
As time goes on, the amount for college tuition gradually increases along with the number of families impacted by it. There should be more options given to families that open up more opportunities for their children to go to college. Such a change could lessen the impact on families, making it much easier for them to help their children without having to deal with the struggles of college loans.