Diana Olmedo

WRTG 2010
Dr. Richards
Student Debt
Introduction:
Student debt has become possibly the largest issue with higher education today. Many
authors have taken it upon themselves to discuss and analyze why student debt possess such a
big danger to our nations future. Some of the authors discussing student debt are Christopher
Avery and Sarah Turner in "Student Loans: Do College Students Borrow Too MuchOr Not
Enough?" (2012), Meta Brown, et al., in Student Loans and the Dynamics of Debt (2014) ,
Pamela Burdman in "The student debt dilemma: Debt aversion as a barrier to college access
(2005), Emma Davies and Stephen EG Lea in Student Attitudes to Student Debt (1995) ,
Thomas Muller in Changes to the Student Loan Experience: Psychological Predictors and
Outcomes (2014), Matthey Reed and Debbie Cochrane in "Student Debt and the Class of 2011"
(2012), and Jeffrey J. Williams in Student Debt and the Spirit of Indenture (2008). These seven
articles discuss the effect of student debt on the nation as a whole, on the household, and most
importantly, on the individual. They also discuss possible causes and solutions to stop the rising
of student debt. I will also be discussing the difference in opinions and language.
Student Debts Effect on the Nation:
Pamela Burdman claims that because student debt has increased so much in the last
decade, it is only a matter of time before college grads, who are barely entering the work force,
will start to file for bankruptcy because there are no jobs available for them. She claims this will
affect the nations economy very negatively and it could possibly send the nation into a great
depression. Meta Brown, et al., argues that the value of higher education has not diminished but

if tuition keeps rising, it will. That will make students less likely to pursue a degree and in result
make the coming generations less educated. If the numbers of students enrolled in higher
education decreases over the next two decades, it will cause the nation to fall even more behind
in the world of education. Jeffrey J. Williams compares student debt to the indentures of early
settlers. He says that the settlers were good for the country because they brought skills, goods,
and labor. Student loans have become the solution to finance higher education, as coming to
America was for the colonists. However, the colonists were guaranteed jobs and that is
something that cannot be said for college graduates. The colonists had a sure way to pay the
money back while many college graduates do not.
Student Debts Effect on House Holds:
Matthew Reed and Debbie Cochranes research indicates that one of the factors that
influence student debt is family resources. They found that approximately four-in-ten households
(37%) headed by an adult under 40 years of age have student debt. Households who make more
money can more easily afford higher education and vise-versa for the households who make less
money. Reed and Cochrane also point out that tuition rose 14% from 2011 to 2012. Brown, et al.,
say educational debt is now the second largest liability on household balance sheets, after
mortgages. (pg. 18) They also claim that high student debt is associated with a negative effect
on borrowers home purchases and other debt payments.
Student Debts Effect on Students:
Students themselves are the ones who are affected most by rising tuition. They are the
ones that must acquire student loans and pay the back as soon as they graduate. Thomas Muller
research how college students perceive student loans and his results showed that students saw

student loans as necessary and mandatory, however, they also said they were needed to be
successful. He states that companies and schools should use his study to try to get students to
have a more positive perception of loans which will allow them to focus more on their school
work and less on trying to pay back the money they owe.
Brown, et al, points out that the value of higher education can possibly decrease in the
near future if tuition prices continue to rise. If the value does decrease, it is likely that college
graduates will have a harder time paying back their student loans and getting out of debt. That
could discourage many from enrolling in higher education, and again, those who would be
affected most would be the students themselves. Pamela Burdman says Students who fear
borrowing may not seriously consider the benefits of higher education (pg. 2). If students do
not pursue higher education because they have a fear of borrowing, it will allow them to have
fewer job opportunities which means they will be stuck with lower paying jobs.
The Causes of Student Debt:
Student debt is a complex problem that does not have one single cause. Burdman claims
that although rising tuition is one of the major causes of student debt, so is the lack of help from
the government to students of lower based income. She says that because high school students
are not being prepared enough, it impairs their ability to search for scholarships and grants that
would help them finance higher education and prevent them from being in debt. Christopher
Avery and Sarah Turner says it depends on the student whether or not borrowing money is too
much or too little. They claim that low tuition schools have a low graduation rate because
students are not motivated because they do not have an urgency to pay loans back. They also
claim that student loans should be seen in a more positive light because Enrolling in college is
likely the fi rst major capital investment that young people will make. (pg. 188)

The Solution to Student Debt:

Just as student debt does not have one single cause, it does not have one simple solution.
Williams claims that the way to lower student debt is to make student loan companies lower their
interest and have the government provide more financial aid. Burden agrees with him and says
the government should make more grants available. She also says learning how to finance, pay,
and acquire student loans should become part of high school curriculum so that high school
students can be more prepared. Burdman also says that loan programs should be redesigned to be
more attractive and efficient to lower-income students so it will help minimize the negative
perception on student loans. That solution from Burdman ties into Mullers claims that if
students begin to see student loans more positively, they will more easily pay them off and not be
in debt. Avery and and Turner also believe that if student loans are seen more positively, students
are more likely to succed. Reed and Cochrane do not mention any specific solutions.
Opinion Differences and Similarities:
All authors agree that student debt is necessary to most when it comes to pursuing higher
education. However, not all of them think of student loans in the same way. Burdman, Williams,
and Brown, et al., all think student debt is an issue that must be addressed by the government
because it will affect the country negatively if it continues to rise so dramatically. Avery and
Turner, Davies and Lea, and Muller agree that if student loans were to be seen in a more positive
light then students would be more likely to succeed because they are actively trying to perform
well in school and not worry about paying their student debt. Although Burdman says that loan
companies should lower their interest and the government should provide more aid, like
Williams does, she also agrees with Muller. She says that because lower income students are
afraid to borrow money, it makes them more likely to not pursue higher education which only

continues to maintain the wage and education gap in place. Whichever opinion the author has on
the issue, student debt is still an issue and they all agree it should be addressed in the safest way
possible.
Vocabulary:
The authors are talking about the same subject which means they all use similar
language. While reading the articles, words are repeated many times. Some of them are rising
tuition, student loans, student debt. Of course, those are to be expected when that is the
topic of piece. However, there was one author whose comparison was not like the rest. Williams
compared student debt to the indentures of early colonists. He stated that they were both
beginnings for very young people, the difference being that indentures guaranteed a job and
shelter while student loans do not. It creates a very big impact because it would seem as both
people are beginning with a legal contract, however, graduates with student debt owe money, not
labor. The other authors do not use metaphors that have a strong connection to beginnings. They
refer to student loans as loans and do not offer comparisons. Williams also uses the common
terms because no one can avoid talking about student debt without actually saying student
debt. Burdman, Avery and Turner, and Muller all talk about perspectives toward student loans.
However, Burdmans main focus is solutions to student debt.
Conclusion:
All of the authors write from different points of views, however they all agree that
student debt is a rising issue that will affect the nation, and world, if it is not addressed soon and
properly. Although they all agree that it is an issue, not all agree that it should be fixed in the
same way. Mueller and Avery and Turner think that student loans should be seen more positively.

Williams and Burdman believe that the government should provide more aid. Meta, et al, Reed
and Cochrane do not offer a possible solution. It can be safely said that student debt will continue
to rise and affect college students lives until the causes begin to be addressed. However, because
it is such a complex issue, one does not know what solutions will work best and it is not a case
where the method of trial and error will be welcome.

Works Cited
Avery, Christopher, and Sarah Turner. "Student Loans: Do College Students Borrow Too Much
Or Not Enough?." The Journal of Economic Perspectives 26.1 (2012): 165-192.
Brown, Meta, et al. "Measuring student debt and its performance." Student loans and the
dynamics of debt (2014): 37-52.
Davies, Emma, and Stephen EG Lea. "Student attitudes to student debt." Journal of economic
psychology 16.4 (1995): 663-679.
Mueller, Thomas. "Changes to The Student Loan Experience: Psychological Predictors and
Outcomes." Journal of Student Financial Aid 43.3 (2014): 4.
Reed, Matthew, and Debbie Cochrane. "Student Debt and the Class of 2011." Project on Student
Debt (2012).
Williams, Jeffrey J. "Student debt and the spirit of indenture." Dissent 55.4 (2008): 73-78.
Burdman, Pamela. "The student debt dilemma: Debt aversion as a barrier to college access."
Center for Studies in Higher Education (2005).