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Students Loans

              A huge population of American citizens have borrowed heavily to finance their education, and multiples are intensely in debt. About 37 million people in America owe a sum of about $1 trillion in student loans (Austin, 2013). The represent an enslaved population because most of them shall be strained by student loans for the better part of their lives. Some may end up clearing their loans, most will default, while others shall get loan modification or some form of loan forgiveness. Student loans affect most of people’s lives by putting them in a financial ruin, where they are left unable to progress in life because of the debts. They have to make high monthly payments to settle these debts and are left with nothing much for personal needs and development (Ross, 2012).

‘Default: the Student Loan Documentary’ narrates the experiences of borrowers of student loans from various backgrounds affected by the student lending sector and their fight to modify this system. Despite the period when the loans were taken, most borrowers end up in crippling situations where they have to repay two, three, or even more time the actual sum borrowed, without any bankruptcy protection, no cap on fines and fees and without no other way out, not even the law. The effects are terrible, with narrations from victims in financial as well as emotional ruin. I find the film very clear and informative in the way it spells out the nature of the crisis that affects many American citizens who are trying to better their lives through education. The film addresses more that the college graduates’ incapacity to manage to settle their loans, and the financial devastation they experience as they negotiate between reimbursing their tents, eating, or settling their mortgage-sized college debt. Even though that depressing section of the narration by itself is substantial to justify a documentary, the issue is hits deeper, as the film chronicles.

The Default film presents the question of whether getting education should be a right or entitlement for American citizens, and whether the country looks at this issue as deep and that needs intervention to invest in our younger generations. Personally, I believe that taking out student loans to fund college education is not a wise decision. This is due to the lifelong impacts that these loans have on the beneficiaries. I think the government should look at education as more of investing on the younger generations and as their right to get it. Therefore, on top of providing scholarships to top performers, it should provide education at subsidized costs so that students can manage to achieve education without themselves or their parents straining much financially or even emotionally. By doing this, college students will be relieved off this burden and will be able to progress in life without major financial setbacks. This will not only be of benefit to them as individuals but also to the economy, since they will have the capacity to contribute more to economic growth.

Education is very important for every person looking to pursue different opportunities and better their lives. Student loans come in handy to assist students seeking college education as a way of pursuing their dreams. These loans, however, negatively impact on the lives of college graduates since they spend the better part of their lives settling them or hoping for some form of relief (Rothstein & Rouse, 2011). That is why I think that education should be affordable and scholars available for most students to prevent dependence on these loans.

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