Hernandez 1

Edwin Hernandez
Vana Derohanessian
English 114B
8 May, 2014
Wheres my money?
In todays society, as a child we dont see the importance of money but as we get older it
becomes a greater concern. We realize that everything has a price and we try different solutions
to obtain financial resources. We apply for jobs and try to save up our money for future expens-
es. However, some people get too caught up with money and believe they have enough to live
off and begin to spend needlessly. Everyone in general has some type of financial responsibility
no matter his or her status. The head of a household has to pay bills and provide for his or her
family and some students have to pay off loans and even the government has financial responsi-
bility like paying off the national debt. Whether being a big enterprise or as small as an individu-
al, everyone from students, parents and the national economy have a financial responsibility
therefore should be able to manage it successfully.
Students have a financial obligation whether its paying off a loan or buying necessities. In
the article Student Borrowers Struggle to Repay Loans by Courtney Coren she states, Only 40
percent of federal student loan borrowers are currently paying back their loans (1). If only 40%
pay back it makes me wonder what happened to more than half the people that need to pay. I
think that sometimes we as students put something off to do something else that we feel is more
important. Someone could be more interested in going out too often and may forget their finan-
cial responsibilities. I believe in these cases students should be aware of their responsibilities and
put money aside incase of emergencies. Coren continues, About 35 percent are not paying back
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their loans because they are either still in school or in the six month grace period before pay-
ments are required to begin(1). Where is the other percent that owes money? Perhaps they de-
cided to take a long vacation. I have a close friend that decided to take out a loan because he
wanted more funds. But he got carried away and began to spend needlessly on items that are no
where near school related. I have a friend at UC Santa Cruz and he took out a loan because he
actually needed the funds. He has spent his money wisely; he and his parents have a plan to
manage it successfully. One of my friends has shown to be more responsible with his finances to
contrary of the other. All students should take on their financial duties because it prepares them
for the future.
The United States Government also has some financial obligations that amount to a great
sum. For example, Kimberly Amadeo author of The U.S. Debt and How It Got So Big articu-
late, the U.S. national debt is the sum of all outstanding debt owed by the Federal Government.
The federal government has its financial responsibilities to find ways that eliminate the dues it
has and owes. Amadeo relates that on October 17, 2013 the debt surged past $17 trillion which
made it the largest by any single country. The government tries to find solutions that will help
reduce the deficit, but at the same time having the nations needs in their mind. For example, the
government can reduce the purchases of outside resources and begin to make more domestic
products. We can even begin to export more products that we make to help us gain funds. The
government has a financial fulfillment just like us, the only difference is they are responsible for
much more.
Students and the government have a financial responsibility to help reconstruct our econo-
my and make the future better. At some point, everyone should be able to pay there dues. Ac-
cording to Richard Vedders article Forgive Student Loans he states, If the federal govern-
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ment shoulders the entire burden, we are adding a trillion more dollars in liabilities to a govern-
ment already grievously overextended (1). The students should not put more pressure on the
government. The students have the responsibility to pay their finances and the government al-
ready has the responsibility for things like Medicare, Social Security, and the national debt. It
wouldn't be fair for someone to take responsibility for something another person did. The finan-
cial responsibility may feel like a burden but we should be able to make a commitment to handle
our own responsibility.
Some people may argue that although taking care of financial issues is important it is some-
thing that we should all take care of collectively rather than individually. I concur that we are all
millions and we cant cover for each and every person. The American Student Assistance (ASA)
states that, there are approximately 37 million student loan borrowers with outstanding student
loans today. Everyone should be able to pay their individual loans rather then having to look at
bigger amounts of debt. According to the Oxford English Dictionary the word responsibility is
defined as, capability of fulfilling an obligation or duty; the quality of being reliable or trust-
worthy. This is a quality that we are all capable of proceeding with no matter the situation. For
example, if I were to hit a car and it was obviously my fault I cant flee because I have to accept
culpability for what I did and pay for any damage. It also wouldnt be fair to make someone pay
for something I did because I am reliable. I believe that a person is responsible for their monetary
issues and their specific actions.
We all have financial obligations whether big or small that we should take care of. It doesn't
matter if its a nation or a single individual. Students have to stay on task and make sure to fulfill
all of their financial responsibilities. The United States Government absorbs intense pressure that
is helping the national economy. The government has to think about the people and the prosperi-
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ty of the nation. Having financial obligations can be one of the most stressful things because of
the long term consequences it may have such as losing a home or even going to jail. The term
responsibility is inscribed in our lives like words on stone and its something we have to accept
At the end we should take care of our financial responsibility even if we dont like to see our
money go.













Work Cited

Coren, Courtney. "Student Borrowers Struggle to Repay Loans." Newsmax. N.p., 6 Aug. 2013.
Web. 17 Feb. 2014.
Amadeo, Kimberly. "The U.S. Debt and How It Got So Big." About.com US Economy. N.p., 5
Sept. 2013. Web. 16 Feb. 2014.
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"Student Loan Debt Statistics." - American Student Assistance. N.p., n.d. Web. 16 Feb. 2014.
Vedder, Richard. Forgive Student Loans? Its the Second-Worst Idea Ever.
NationalReview.com. National Review Online, 11 Oct. 2011. Web. 16 Feb. 2014.
"Responsibility." Oxford English Dictionary. N.p., n.d. Web. 16 Feb. 2014.