Dear Future President,
As Mark Pocan, a United States representative, once said, “By making college unaffordable and student loans unbearable, we risk deterring our best and brightest from pursuing higher education and securing a good-paying job.” Since student loans are so expensive, this makes great education harder to achieve for students. These very same students will become the adults in the future. Many great advances can be achieved except for the fact that most of these students are unwilling to go through the great costs of student loans. As the future president, you should help reduce student debt.
To begin, you should reduce student debt because many students are unable to pay off student loan debt until many years later. According to LendingTree, the average student loan debt is “$27,162 per individual.” This is obviously way more money than most recently-graduated students can handle. Also you should reduce student loan debt as it discourages students wanting to go to high ranking colleges such as Stanford or Yale. Such high ranking colleges require more expensive student loans. LendingTree conducted a survey on people born between 1980 and 1995. The results were that “15.06 percent [of the people] were accepted to a ‘better’ school but found attendance to be unaffordable, and another one third (33.2%) didn't even apply to a ‘better’ school due to the cost of attendance and increased student debt potential.” Since fewer people are going to high ranking colleges, many world advances will go unachieved. Lastly, you should reduce student loan debt because it causes students to have a hard time buying a car or a house. Since buying a car or a house will most likely require finance, the students will have to pay hundreds of dollars a month to pay for a house, a car, and student loan debt. Since student loan debt builds in interest, it takes longer and longer to pay off the debt. Because of increased debt, students will find buying a car or a home nearly impossible without help. According to LendingTree, the most common purchases delayed by student debt were “travel (53.27%), purchasing a home (45.31%), buying an automobile (44.74%) and saving for retirement (38.07%).” This shows that student debt is an issue and needs to be addressed.
Once more, I say you should reduce student debt. I find student debt to be an important issue because I know that I will face the same challenges in college. I wish to go to a great colleges unrestricted by high costs. Hopefully, you will reduce student debt so students like me will be able to afford great colleges.