Scrolling Headlines:

Amazon textbook contract ending in December 2018 -

October 19, 2017

UMass field hockey heads into crucial A-10 matchup -

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2017 Hockey Special Issue -

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International Relations Club tackles tough issues at ‘Foreign Policy Coffee Hour’ -

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Sexual assault reports spike on campus -

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Californian students react to wildfires back home -

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‘My Little Pony: The Movie’ is a surprising animated treat, whether you’re a fan of the show or not -

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With a young team, Carvel is preparing the UMass hockey team to thrive -

October 19, 2017

Letter: UMass hockey is great, but where are the students? -

October 19, 2017

Boino’s blast gives UMass men’s soccer sole possession of first place in the Atlantic 10 -

October 19, 2017

UMass freshmen look to play physical, make an impact and improve early on -

October 19, 2017

UMass hockey sets out to create new program, identity in 2017-18 -

October 19, 2017

Cale Makar: UMass hockey’s crown jewel -

October 19, 2017

Ames: If first four games are any indicator, this UMass hockey season could differ for the better -

October 19, 2017

Josh Couturier looks to find where he fits within UMass lineup -

October 19, 2017

The straw man fallacy: missing the point on Indigenous Peoples Day -

October 19, 2017

Power to the Thin Mint: improve the Girls Scouts program -

October 19, 2017

‘Blade Runner 2049’ has a lot of ideas that it fails to develop -

October 19, 2017

Early season challenge awaits for UMass hockey in weekend set with Ohio State -

October 18, 2017

UMass Professor Barbara Krauthamer receives award from Association of Black Women Historians -

October 18, 2017

Student debt reaches new highs

Students across America are borrowing more than ever before, a trend that will likely have long-term affects for an entire generation.

With some colleges and universities costing over $50,000 a year, families and students are pressured to take out loans to pay for the rapidly growing expenses. The total amount borrowed by students and families in the 2008-2009 year reached $75.1 billion, according to the U.S. Deparment of Education, up more than 25 percent in the last year. Though more than expected, the rise in student debt has been growing for more than a decade.

These numbers just further show how common it has become for students to rely on loans to help pay for education. With two-thirds of college students borrowing to pay for college, the average debt loan has reached $23,186 by the time they graduate, according to the Department of Education.

The types of loans taken out by college attendees are one of two choices; federal direct loans or private loans.

Federal direct loans are those provided by the Department of Education. Acting as a lender, the federal government provides funds through Stafford loans and PLUS loans. These loans allow the student to choose which school and choice of study is most appropriate.

Private loans are loans provided by loan lenders such as Sallie Mae and My Rich Uncle. These loans can be used not only to pay for tuition but also for living fees. These loans also come with higher interest fees and are less available after the financial crisis.

Living in a sunken economy, many are unsure as to how they will pay for college. Some feel pressured to turn to high interest rate, risky private loans. In effort to prevent this, President Obama’s Administration has raised the Stafford loans limit to $31,000, which happens to be $8,000 more than the previous year.  While this may prevent students from graduating because of  the burden of risky loans, this generation is still facing thousands of dollars worth of debt to pay off.

Ashley Allen, a junior and creative writing major at Hollins University has over $52,000 in loans to pay off after graduation and worries about the job market.

 “It’s hard enough to find a job in this economy, let alone a job that will allow me pay for rent, food and my loans plus interest,“ Allen said.

Michelle Williams can be reached at mnwillia@student.umass.edu.

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