Posted on June 23, by Praveen Patil Is it just exam phobia or more???? With the kind of competition children these days face at every stage, parents are stressed like never before.
Mark Kantrowitz May 28, This is a cautionary tale of the consequences of defaulting on education debt, based on the experiences of seven borrowers of federal and private student loans.
The stories are all true, but names and inconsequential details have been changed to protect the borrowers. Education debt is a necessary evil.
Most students graduate from college with student loan debt. The bottom line is that college means debt, since student loans are unavoidable for all students except for those who come from the wealthiest of families.
If education debt is evil, then defaulting on your student loans is a one-way ticket to hell. The following borrowers have each encountered some of the more horrific consequences of defaulting on federal and private student loans, in most cases through no fault of their own.
The toll is not just financial, but extends into their personal lives and affects their families too. Revenge of the Universal Default Richard graduated from undergraduate school with little debt, having attended an in-state public college.
But his career aspirations in the social sciences and humanities require a doctorate, and attending the top graduate school in his field meant a move to New York City. The only available financial aid involved borrowing federal and private student loans, and a lot at that.
To try to make ends meet Richard also worked 30 hours a week. Even so, he accumulated a hefty balance on his credit cards on top of the student loans. Moving out of New York helped cut his costs, but not by enough. The attorney said that bankruptcy would not prevent him from continuing to get federal student loans, but it would likely disqualify him from obtaining any further private loans.
To his surprise, it turns out that his private student loans had a universal default clause. Universal default clauses were banned for credit cards and open-ended consumer credit plans by the Credit Card Act of but not for private student loans.
As a result, his private student loans were now due and payable in full even though he was still enrolled in graduate school. He has been forced to take leaves of absence from the graduate program to work full-time to deal with his debt.
The heavy work load and stress from the oppressive debt has prevented him from finishing his doctorate. He has not and does not intend to default on his federal education loans. Richard offers several lessons to future student borrowers: Read the fine print on your student loans carefully, especially any limitations on the duration of the in-school deferment and also any universal default clauses.A state report found that between and , private school enrollment only increased by one-third of one percent, indicating that most of the students receiving private school scholarships under the new tax credit program were already attending private school.
Private tuition becomes necessary where the student would not be capable of sitting at his studies by himself because he has no inclination or the parents have no time to look at their child's academic progress. Most pampered children need a private tutor as a permanent feature.
Essay on the Advantages and Disadvantages of Private Tuition Article shared by Such a sea change can be witnessed in the attitudes of people that, it is very obvious in almost every sphere of human existence.
Free Essays on Private Tuitions Are a Necessary Evil Against It. Private tuition becomes necessary where the student would not be capable of sitting at his studies by himself because he has no inclination or the parents have no time to look at their child's academic progress.
The exchange of tuition dollars is differentiated among types of institutions ($/year, on average, at public 2-year institutions, $/year, on average, at public 4-year institutions, and $32,/year, on average, at private 4-year institutions), and is further mediated by things like family resources, scholarships/grants (including Pell.
study buddy ESSAY ON THE TOPIC – “PRIVATE TUITIONS ARE A NECESSARY EVIL”. GIVE YOUR VIEWS FOR OR AGAINST THE STATEMENT ESSAY ON THE TOPIC – “PRIVATE TUITIONS ARE A NECESSARY EVIL”.
GIVE YOUR VIEWS FOR OR AGAINST THE STATEMENT Reporter Bhagat April 19, Reporter Bhagat. We are living in a world of education. Today education.