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Tina Vartanian John Kubler English 114A 29 October 2013 No Turning Back Imagine a nation where money did not dictate one's life. Seems appealing doesnt it? Of course it does. Now, imagine being able to change your life for the better by earning a bachelors degree. Although that is possible, the financial aspect of attending a university is difficult to overcome. There are ways of paying for a college education; however, since most people do not have that type of money, they take out loans. The current total of outstanding student loans [in the United States] is roughly $1 trillion (Holmes 4). With this number constantly growing, there has been controversy on whether the students should be forgiven of their loans. It is unrealistic to even consider this option, because not only does it add to the national debt, but it will affect the taxpayers, society and our economy. Lets start with the most basic question: "Who would take the loss from the unanticipated non-repayment of a trillion dollars?" (Vedder 1). Due to the fact that our economy is currently suffering, and we are trillions of dollars in debt, partly due to student loans, the first issue of student forgiveness is who is going to pay. By allowing students to have their loans discharged, "...we are adding a trillion or so dollars in liabilities to a government already grievously overextended..." in areas such as Social Security, Medicare, employment opportunities, and more (Vedder 1). The answer to our question does not exist because our nation is already being pushed to its limit. Vedder shares his concerns about the crisis concerning student loans by persuading

Vartanian 2 the audience with emotion. His informative yet gloomy tone throughout the article allows the reader to share the same concerns. Vedder makes very clear and rational points in his article by simply asking the question, who will this decision affect. Our taxpayers are already paying a good chunk of their well-deserved money to help our nation and educational systems. How much more can we ask of them? The amount of degrees awarded as well as enrollment among institutions in the United States, has undoubtedly risen. ...With FTE enrollment rising 73 percent and degrees awarded rising 84 percent it is logical to believe that this was made possible due to the taxpayers and their increased involvement, as well as the ability of taking out a student loan (McCluskey 12). However, is this benefiting our society? With the increase of degrees awarded, there have been some unintended consequences such as ...credential inflation, sky-high non completion rates, and rampant tuition inflation (McCluskey 1). In other words, we are ...taking money from taxpayers and giving it to students and schools extract the money from more efficient userspeople who know their needs best and earned the money- and delivers it to less efficient users for whom the money is unearned (McCluskey 18). McCluskey makes very valid points throughout his article by relating to the common people. He uses logic to inform the reader of how much taxpayers suffer, to help our educational programs. Yes, the programs do help students pay for college; however, it usually is not enough to cover everything, so students are forced to take out student loans. This is where the problem occurs. Since 1976 ...federally backed student loans have been non-dischargeable in bankruptcy and since 2005, private student loans cant be escaped through bankruptcy either... (Holmes 3). In other words, student loans must be paid under any circumstance. One can delay their payments; however, this will cause a buildup of interest as well as penalty fees. On

Vartanian 3 average, the Department of Education gets back the principal plus 20% in interest and fees on all defaulted loans (Holmes 3). That is just a ridiculous amount given the circumstances. In the article, Silence=Debt, the author uses logos to persuade the reader. He gives logical facts and provides the timeline of when the whole student loan crisis arose. The fees concerning the loans are very irrational; however, if one agrees to pay the conditions then in my opinion they should keep their word. Due to the fact that college is very expensive, it is also highly desired. The altercations that come with this, is inevitable. The idea of forgiving student loans is not possible in today's society; however, there have been changes made to help students pay their loans on time. To ensure that Americans can afford their student loan payments, the Health Care and Education Reconciliation Act gives student borrowers new choices in how they repay their loans (Biden 1). These choices include limiting the payments up to 10% of the students current income, as well as ...Forgive Any Remaining Debt after 20 Years, or after 10 Years for Those in Public Service... (2). Holmes uses an optimistic tone throughout his article to try to create some hope for people who are suffering with debt. Although this Act is a start, does not solve our current problem. There are no excuses for not being able to pay off one's debt. It is a burden the individual signed up for and must pay off. In all, student loans are something that the student themselves took on, and therefore it is their responsibility to pay the loan off. Student forgiveness is out of the question because of its unrealistic approach.