This paper looks at the concept of student loans and the ramifications of defaulting on them.
Written in 2001; 1,500 words; 7 sources; MLA; $ 49.95
Paper Summary:
A look at the purpose of student loans as a government institution and how this benefits students. It also analyzes the damage defaulting on such loans has to the students' future. The writer looks at the history of the implementation of students loans by the government and how this concept has evolved.
From the Paper:
"Although a student loan can be the beginning of a promising and lucrative career, defaulting on that loan can sadly become a weight on one's shoulders that is not easily removed. Defaulting on a student loan may cause consequences that follow a person for many years to come.
The figure for student loan default now stands at 6.9 percent, the lowest on record in the history of the government program. Ten years ago, it topped 20 percent and the entire program was in danger of being discontinued. To a large degree, the failure was attributed to for-profit vocational schools that encouraged students to obtain loans for courses of study that had little chance of bettering the students' potential for employment. Changes in policy helped do away with this type of misuse of the student loan program, and the growing strength of the economy helped to rescue it from cancellation (The Washington Post)."
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