“Yes I have student loan debt, I am 22 years old studying communications at a university of course I have them…I absolutely have no clue how long I will be paying them off…I don’t really want to think about it.” Kyle Coghills is just one of millions of Americans worrying about student loan debt and retirement. This issue came to my attention when my mom said she had a 22,000 dollar student loan debt after going to get her master’s degree and that it was a small amount in terms of student loan debt. Therefore, as the next president, I hope you will help decrease student loan debt.
To begin, student loan debt is at high of 1.2 trillion dollars. This is about 1/17 of what America owes to other countries. Some people think, “When this year’s freshmen graduate student loan debt in America is expected to reach 2 trillion.” This shows that student loan debt is not only bad, but getting worse. In fact, that would mean student loan debt can become even more than the nation’s debt in 160 years, if it keeps growing at this rate. While that is a long time away, you can help decrease the amount of student loan debt while you are president. Moreover, student loans are preventing many Americans from retiring. This is forcing people who may not have the energy in their old age to continue working, because they don’t want to run out of money. In addition, according to gale data bases some people think “The more debt you take on, the greater your chances of having to delay retirement or, worse yet, run out of money in your old age.” This means that some who don’t have the capability to work run out of money. Next, some people are sued because they have a very large student loan debt and simply can’t afford college debt; when they do not make their payments, they are sued. Actually,
Gale databases say, “You might get sued for the amount you owe and wind up on the hook not just for your debt, but for the cost of bringing a lawsuit against you.” This shows that people who can’t even afford college have to pay possibly even more monumental debt. These are only a few of the consequences of a large student loan debt.
As previously stated, I, as an American citizen, want you to help decrease student loan debt before it becomes larger than the nation’s debt. In fact Bernie Sanders says, “The cost of college education today is so high that many young people are giving up their dream of going to college, while many others are graduating deeply in debt.” Sincerely,