Income inequality in student debt
Document Type:Research Paper
Although the loans are given to enable equal access and ensure there is equality in education, this is not he case when it comes to income. The loan burden is actually contributing to the increasing inequality in income in the United States. This shows that although there is equal access to opportunities in the society, the rich are always emerging as winners (Jackson & Reynolds, 2013). This is contributed by the fact that they have many advantages than the others. They tend to graduate with low student debt or even no debt and will have all their income ready to invest. Others are even forced to take up loans from private institutions after they reach the federal program maximum for loans (Jackson & Reynolds, 2013).
This puts a burden to the students even after they get the education qualifications they wished for. At the end, they end up having huge debts in terms of education loans which they are supposed to repay after they finish college. Although they may graduate with the same qualifications as those with less debts or no debts, the income after leaving college is mostly different. Those with high student debts will have stress repaying their debts. Their status allowed them to seize every opportunity that came their way. The documentary compares life in the two regions separated by a river. People from the rich side have the best shot in the economy compared to others in the other side who have to struggle to make it in life.
According to the writer, money and power plays an integral role in an individual move to achieve the American dream. Although those from the other side may have the same opportunities, the rich will have the courage and will not hesitate taking the chances. The lower social class is a barrier to the progress of its members. This is different when it comes to the rich as their social class acts as an added advantage in the pursuit of their goals. In addition, the issue of income inequality in student debts brings another issue of how students with huge debts are affected by the debts academically. Statistics show that most of these students will tend to have lower GPA compared those without debts or with less debts (Williams, 2008).
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