October 11, 2016
Dear future President,
It really is not a surprise when you hear how much money it costs a year to attend a high end college. Clearly, most people agree that cost needs to change. I have a fear: I do not know if I will be able to afford college next year. I would like to go to college for art therapy. It makes no sense that I should pay the same amount to get into college as a future engineer worker, when after college, I will be making a lot less money than they. It is my passion to become an art therapist so I have to pay the same amount which I do not think is right. One friend of mine attended a school that excels in his major, but a few months in he had to leave due to finances. Unable to afford the debt he now possessed, he felt overwhelmed and gave up. That is what student loan debt does.
Furthermore, the graph below shows that within 22 years, the average student loan debt increased about $25,000, an outrageous amount. For example, in 1993 the average student loan debt was just under $10,000 whereas in 2015, it rose to about $35,000. This really is an issue, though there are ways to lower the average debt per borrower in each years graduating class. Various ideas for lowering the student loan debt would be extending the loan payment and reducing the interest rate. Doing this would be great, so that people could finish college and pursue their dreams.
Many students are not graduating due to debt and thus, they will not earn a degree. This debt causes the dropouts to find jobs that give them as little as minimum wage, which is not enough for students if they have to pay back their college debt. Please think about it... $1.3 trillion for college debt altogether. That is not good for the economy but it is also not good for parents and the students especially. Although, the students who borrow money for college may not spend it wisely. For instance, Ohio University’s developmental economist Julia Paxton said, “One friend explained to me in my sophomore year that because his student loan money finally came through he was able to put the finishing touches on his beer pong table,” which is morally wrong. This behavior caused the student to have a “weakened ability to repay, creating a vicious cycle that hurts the financial decoy and the credit ratings of the borrowers” (Forbes). Of course there will be those kids who waste their money, but the majority of the students flooded in debt really do try.
I would really like to attend college, but I am so afraid I will be unable to afford it or later will be unable to pursue my dreams. I think that college tuition should not be so expensive. Like I said, I want to attend college to become an art therapist. That would be amazing in my opinion, but they do not make as much money as other people who go to college for engineering or something else. That means I would be in more trouble than they because they will be making a lot more money which leads to a lower college debt. Lowering tuition would help so many people follow their dreams. I understand that being the President is very stressful and it is a big responsibility, but please consider it and begin the process of reducing the tuition that way they can obtain a higher education and get a degree instead of having to drop out because of debt. Thank you.