Student Debt Essay





Debts Among College Students

College students usually enjoy their time while in college, owing to the fact that various memories they are fond of and experiences are encountered during this period. However, students end up running through some rough challenges that make this journey unique both positively and negatively, depending on how one perceives it. Some challenges are usually faced by every college student at least once in their time spent through college life (Baker and Catherine 115). Rather than succumbing to these challenges, students try their best to find the perfect solution towards dealing with and countering these challenges and making their life in college endurable. Debts among college students are one of the most difficult challenges that every college student goes through while in college. Although the time spent through college can be full of enjoyable experiences and fond memories, rough patches form part of the student's life as they are bound to occur at a point in one’s time while in college.

College life can be a bit expensive due to the rising tuition costs and living expenses. With the costs of learning materials such as books, supplies, meals, transportation, and housing rates, college students end up falling victim to unmanageable debts that make life in college challenging and unbearable. With rising tuition costs, most students cut on their expenses to cater for their education, thereby incurring debts to cater for other necessary living expenses, such as meals, transportation, and learning materials (Tran et al. 459). The recommendation availed by most financial advisors is that one must borrow a standard amount to that which they can earn in their first year after completing college. Students find it hard to follow this rule, considering the high expenses they have to sort out while in college. An increasing number of students end up dropping from school as they cannot afford to carter for the expenses (Eaton et al. 14). To sort out their debts, some students seek full-time jobs that can allow them to deal with their financial issues. This in turn affects their academic schedules as they cannot attend classes on a regular basis. Students usually graduate from college with high debts that need to be sorted out.

Solutions for Overcoming Debts Among College Students

Acquiring student loans is relatively an easy procedure. However, many students fail to take note of how they need to carry out repayments and the duration they have to complete their loan debts. Lacking this knowledge adds up to the number of stress students suffer from debts incurred while in college. Students need to understand their loan structures before taking loans to pay their tuition costs (Eaton et al. 23). Going through one’s loan structure will help a student to attain the necessary knowledge on how each loan works, the duration one must take to complete the loan debt after school, and how one can organize to acquire manageable student loans. A financial advisor is helpful to a student who needs to understand various loan structures before undertaking a loan debt.

Considering an on-campus job can be helpful in dealing with debts among college students. On-campus jobs help students to cut on various expenses, including transportation expenses while allowing them to focus on their academics while at school. Students can work while still at school and manage their time, as well as their finances (Baker and Catherine 117). In line with working in an on-campus job, students can create a budget to help them solve their debt challenges (Tran et al. 459). Creating a budget will allow students to understand their financial capabilities while finding significant ways to cut on their costs and utilizing their finances well.


College life is fun and enjoyable, regardless of the various challenges that students face. Rather than succumbing to the heavy burden imposed by these challenges, students need to find effective solutions towards dealing with them. Debts among college students may be unbearable, but worth facing in the end as such challenges help one to find solutions towards dealing with them, which may be useful in the future.


Works Cited

Baker, Amanda R., and Catherine P. Montalto. "Student Laon Debt and Financial Stress:

Implications for Academic Performance.” Journal of College Student Development 60.1 (2019): 115-120.

Eaton, Charlie, et al. "Affording the dream: Student debt and state need-based grant aid for public

university students.” (2017)

Tran, Alisia GTT, et al. "At what costs? Student loan debt, debt stress, and racially/ethically

diverse college students perceived health.” Cultural Diversity and Ethnic Minority Psychology 24.4 (2018): 459.




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