The Solution to Student Loans in Higher Education in America

Students loan exists in developed countries of the world where education is supposed to be a stable value that guarantees the same stable future for its recipients. In other words, only developed countries with low unemployment are willing to take the risk of giving educational loans. Education in the United States are known to be paid almost for everyone, especially for foreigners, nevertheless, there are opportunities for free education for them. However, it seems to be a little bit unfair for people to get the extremely expensive student loan and have a chance not to put it to good use in the future, thereby, sparing the adults from the dept.

All students have the possibility to study for free in any institution but on condition of obtaining sponsorships, scholarships, or government grants. Nevertheless, not all applicants may receive these privileges, at the same time, education remains to be necessary.

In this case, the student loan is considered to be helpful for them, especially when they eligible to obtain tax benefits or use the detection, moreover, the practice of providing educational loans to students and their parents has been existed for a long time (Carrns).

This form of financial provision is so popular due to the fact that American families do not have enough money to pay for at least one year of studying in the low—cost colleges, excluding the living expenses, meals, textbooks, and other necessary things. Moreover, foreign students suffer more because these amounts grow in several times It is an undeniable fact, that almost a half percent of students do not work in their degree field or have some troubles in the disbursement of a loan over a distance of years due to the law awareness of the repayment plans from the government (Carrns).

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Thus, these people have to bear a burden and spend their life on working to pay the loan fully. It should be noted, that the spread of education loan creates a layer of young people who have taken an educational loan and can not provide it completely, for instance, due to the financial crises or servicing companies that make the loan harder to make the payments (Morgenson). This layer is marginalized quickly and becomes a burden for the state requiring them to write off the debt. With all the disadvantages, the educational loan is supposed to be useful for the private person due to the fact that the individual may receive a really good education, guarantee the growth and prosperity for his or her own career, and make the society smarter and more mobile.

To the contrary, the person have to comprehend that he or she are held fully liable for this loan before parents and be sure to its benefit, moreover, people have to require additional assistance from the servicing companies that are actually provided for them, such as repayments.  In conclusion, the best solution of this problem and the ideal system for the higher education is to make it paid, however, to provide the possibilities of obtaining additional grants from various foundations and organizations for talented people. An ample quantity of grants allows young men and women to study free and not to bear the burden in the likeness of the durable educational loan. On the one hand, it is supposed to be an incentive to develop their talent in high school, and on the other hand, there is no need to return the costs of education after the graduation which leaves more freedom to develop the talents and stick to their knitting in the future.