Improving the Administration and Collection Process for Government-Sponsored Student Loans
Introduction
Today, tens of thousands of young people are mortgaging part of their future with student loans in order to obtain a higher education. In some cases, these students do not receive the full disclosure concerning repayment terms, creating a long-term hardship. To determine the facts, this paper provides an overview of government student loans and how the different actors on the student loan side are involved with helping the student borrowers with loans need to be held to a certain standard. The problem that is occurring is that the student loan representatives are not revealing repayment options or answering questions when students call. Therefore, the purpose of this study is two-fold as follows: 1) to demonstrate that there is in fact a duty for these actors to provide full disclosure due to controlling legislation and 2) to identify potential outcomes in…...
The choice to borrow money is never an easy one. Kyle needs to consider the loan as an investment in himself. A person like Kyle, who has a clear plan about his future and how he intends to build a career, has solid chances of being able to pay off the loan. It is people who are afraid to take financial risks that end up missing out on opportunities, neither achieving their dreams nor financial security. As long as Kyle applies for the right kind of loan, learning about his options and how to pay the loan back effectively, he will be making the right choice for himself, his career, and his family.
The Financial Calculators (2017) website shows that without a doubt, a student loan is a good investment because college graduates do earn more money on average than their counterparts with just a high school degree. In fact, Kyle…...
Canceling Student Loan Debt for Black StudentsStudent loan debt problem is one of the major social issues in the United States education sector. This problem is fueled by various factors, particularly the fact that tuition fee is outpacing the ability of students to pay. In addition, the percentage of students taking out loans to finance their education continues to increase rapidly. Therefore, policymakers and stakeholders within the education sector are looking for solutions to address the student debt crisis. Many researchers and experts contend that canceling these debts is a suitable solution to addressing the crisis. However, Black students are seemingly disadvantaged in efforts to cancel student loan debt largely because of past discrimination. This paper explores canceling student loan debt for Black students as one of the ways to promote social justice in higher education.Social Justice in Higher EducationThe field of education has experienced tremendous changes in the recent…...
mlaReferencesGeiman, J. & Taylor, A.S. (2022). Disproportionately impacted: Closing the racial wealth gap through student loan cancellation, payment reforms, and investment in college affordability. Retrieved July 6, 2022, from D. (2016). University access, inclusion and social justice. South African Journal of Higher Education, 26(3), 487-502.Jung, T. (2022). For non-white Americans, canceling student debt is racial justice. NJ Spotlight News. Retrieved July 6, 2022, from https://www.njspotlightnews.org/2022/05/canceling-student-debt-racial-justice-issue-communities-of-color-wealth-gap/ Kuhn, C., Ellis, N. & Grabenstein, H. (2022). Watch: How student loan debt disproportionately hurts Black borrowers. PBS. Retrieved July 6, 2022, from https://www.pbs.org/newshour/economy/watch-live-how-student-loan-debt-disproportionately-hurts-black-borrowers Looney, A. & Yannelis, C. (2015). A crisis in student loans? How changes in the characteristics of borrowers and in the institutions they attended contributed to rising loan defaults. Retrieved from The Brookings Institution website: https://www.brookings.edu/wp-content/uploads/2015/09/looneytextfall15bpea.pdf Perry, A.M., Steinbaum, M. & Romer, C. (2021). Student loans, the racial wealth divide, and why we need full student debt cancellation. Retrieved from The Brookings Institution website: from https://www.brookings.edu/research/student-loans-the-racial-wealth-divide-and-why-we-need-full-student-debt-cancellation/ Strait, J. & Nordyke, K.J. (2015) eService-learning: Creating experiential and civic engagement through online and hybrid courses, Sterling, VA: Stylus Publications.The Education Trust. (2021). Black student loan borrowers: College debt is lifetime sentence that widens racial wealth gap. Retrieved July 6, 2022, from https://edtrust.org/press-release/black-student-loan-borrowers-college-debt-is-lifetime-sentence-that-widens-racial-wealth-gap/ Ulbrich, T.R. & Kirk, L.M. (2017). It’s time to broaden the conversation about the student debt crisis beyond rising tuition costs. American Journal of Pharmaceutical Education, 81(6). doi: 10.5688/ajpe816101Williamson, V. (2020). Closing the racial wealth gap requires heavy, progressive taxation of wealth. Retrieved from The Brookings Institution website: https://www.brookings.edu/research/closing-the-racial-wealth-gap-requires-heavy-progressive-taxation-of-wealth/https://www.clasp.org/publications/report/brief/disproportionately-impacted-closing-the-racial-wealth-gap-through-student-loan-cancellation-payment-reforms-and-investment-in-college-affordability/ Hlalele,
Abstract
Student loan debt forgiveness has become an increasingly controversial hot-button topic in American higher education today. On one hand, the American system of higher education has grown increasingly expensive. More students have been forced to take out loans to support their education as a result. On the other hand, many people oppose debt forgiveness on financial and ethical grounds. This paper argues in favor of debt forgiveness on principle, and offers a practical solution about how to achieve it.
Student Loan Debt Forgiveness: An Argument in Favor
Student loan debt is crippling young—and many older—Americans. More people are in debt for their educations than at any time in the nation’s history. As a democracy, having an educated populace is considered necessary for government to function, so people are able to vote in an educated fashion. Our society is growing increasingly technologically complex, and greater and more specialized knowledge is needed for it…...
mlaReferences
Chingos, M. M. (2017). The rich get richer. Education Next, 17(4). Retrieved from: Fields, S. (2019). 70% of college students graduate with debt. How did we get here? Marketplace. Retrieved from: https://www.marketplace.org/2019/09/30/70-of-college-students-graduate-with-debt-how-did-we-get-here/ Lowrey, A. (2020). Go ahead, forgive student debt. The Atlantic. Retrieved from: https://www.theatlantic.com/ideas/archive/2020/11/why-biden-should-forgive-student-loan-debt/617171/ Nuckols, W., Bullington, K. E., & Gregory, D. E. (2020). Was it worth it? using student loans to finance a college degree. Higher Education Politics & Economics, 6(1), 1-19. doi: http://dx.doi.org/10.32674/hepe.v6i1.1358 . Retrieved from ProQuest.com:Weiner, J. (2014). Why sally can\\\\'t get a good job with her college degree: College-educated women find it hard to get a job because the market doesn\\\\'t value their bachelor\\\\'s degree. The Washington Post. Retrieved from: https://www.proquest.com
student aid programs.
Student finance aid can be described as funds given to the student to make it easy for them to fix cost of education such as fee and tuition, room and board, supplies and books where the students are undertaking their education like in universities, colleges or private schools.The funds which is being given out to public educations by government in general is known as financial aid meaning that it is being given to particular students, Financial aid can also be referred to as scholarship, although scholarship has some other components like students loans and grants.Loans are finance that one lend and must be paid back with an intrest after a period of time.In the case of student loan the money will be taken back after graduating.Aid is the help one is given.
All the U.S. states governments and The United States government offer loans, grants and work study…...
mlaWork cited
Berkeley (December 2009)"students debt "Schackner Pittsburgh Post Gazette
Fetterman Mindy (2006)"Young people struggle to deal witht kiss of debts "USA Today
Kantrowitz, Mark (2010-03-26). "Student Loans - The New York Times." Nytimes.com. Retrieved 2011-02-07.http://www.nytimes.com/info/student-loans/?inline=nyt-classifier .
Schemo, Diana Jean (June 10, 2007) "Private loan deepen acrisis in student Debt "by new York times Tim Grant,(July 29,2009) "student loan puts college graduates into deep financial hole" Pittsburgh Post Gazette
There was little difference in terms of library use and retention between SES groups, although, "overall, the differences in library use between the SES groups were not statistically significant over the semester; however, PC logins at 1 April were significantly higher for students from low SES backgrounds than their colleagues from medium and high SES backgrounds" (Haddow & Joseph 2010: 240-241).
The study design and approach seems flawed from the beginning, given its emphasis on using the physical location of the library, which the authors admit is relatively outdated, given the number of students who access the library virtually, either at workstations or remotely, versus the relative paucity that use its physical resources. Even giving undue emphasis to the use of workstations as proof of student engagement with the library seems questionable and unwise, since less affluent students will invariably have a greater need to use the physical location of…...
mlaDemographic and student library use were logged over the course of a semester at a single Australian university. The findings raised some questions about the initial hypothesis -- of all students, both those whom remained at university and did not, very few actually took out a physical book from the library. There was a higher rate of student library usage by retained students, but that may partially have been due to the fact that once students dropped out, they no longer had access to (or a need to) use the library. What the authors found significant were "the significant differences found for use of library workstations and other electronic resources and retention early in the semester [which] may be the most useful results to emerge from the study" (Haddow & Joseph 2010: 240). There was little difference in terms of library use and retention between SES groups, although, "overall, the differences in library use between the SES groups were not statistically significant over the semester; however, PC logins at 1 April were significantly higher for students from low SES backgrounds than their colleagues from medium and high SES backgrounds" (Haddow & Joseph 2010: 240-241).
The study design and approach seems flawed from the beginning, given its emphasis on using the physical location of the library, which the authors admit is relatively outdated, given the number of students who access the library virtually, either at workstations or remotely, versus the relative paucity that use its physical resources. Even giving undue emphasis to the use of workstations as proof of student engagement with the library seems questionable and unwise, since less affluent students will invariably have a greater need to use the physical location of the library if they lack ready computer access. The most committed of the least affluent students, logic would dictate, would use the workstations; more affluent students would use home computers and less committed students would eschew the library entirely.
Instead of determining the correlation between retention and library usage, a more interesting question would be the correlation between effective library use and retention, an area which students from high SES backgrounds might have an advantage and explain their higher retention rates. The incoming class could have been given and Internet-administered quiz asking them such questions as how to use the online library catalogue; how to access an academic database; and their relative comfort level in conducting academic research. This would have allowed researchers to compare demographic characteristics with responses. At the end of the semester, the retention rates of the class vs. their scores on the initial quiz could be assessed to see if comfort and confidence in using the library gave an advantage to incoming students in terms of their overall freshman year career.
Student Life Generally
Business Plan
The business plan that is created is for an electronics retails store that will retail electronic merchandise. The main products that will be offered by the store will be Samsung electronic products which include Samsung tablets, laptops, computers, phones and related products and services. The name of the business will be Sunshine Electronics etail Store. Sunshine store will be a franchise company for Samsung Inc. There are numerous benefits of being a franchise. These include:
Operating under a renowned brand name that of Samsung Inc. has major benefits. To begin with, the store enjoys increased security for your enterprise. Not only are the products being retailed already tried and tested, but the store will benefit from Samsung if there need be for improvements. More so, already a household name in the market, the store will not have any need to make a brand but will go straight into…...
mlaReferences
Ernst & Young. (2013). International GAAP 2013: Generally Accepted Accounting Principles under International Financial Reporting Standards. Wiley.
Greggo, A., Kresevich, M. (2011). Retail Security and Loss Prevention Solutions. New York: Taylor and Francis Group.
Kurtz, D.L., Boone, L.E. (2009). Contemporary Business. Ohio: South Western Cengage.
Millar, J. (2003). An Investigation Into the Effects of the Sarbanes-Oxley Act on Firm and market values. Southern Illinois University.
Student Social Identity Development
How and hy Students Develop a Social Identity
hat is meant by Student Development?
Author Nancy J. Evans notes that the phrase "Student Development" too often becomes simply a vague catchphrase that has little application to college students' lives and learning. Student Development embraces the psychosocial, cognitive-structural, and social identity of students in postsecondary settings (Evans, et al., 2009).
In the quest for self-direction, students universally seek a social identity as well as an education that can propel them into meaningful, successful careers.
Evans, N.J., Forney, D.S., Guido, F.M., Patton, L.D., and Renn, K.A. (2009). Student Development in College: Theory, Research, and Practice.
Introduction to Training Session
Clearly college and university students already have an identity when they enroll in classes, although their more mature individual identity in the social milieu will evolve with time. This training session embraces the question of how and why a student's social identity develops. It offers insights…...
mlaWorks Cited
Evans, N.J., Forney, D.S., Guido, F.M., Patton, L.D., and Renn, K.A. (2009). Student
Development in College: Theory, Research, and Practice. Hoboken, NJ: John Wiley & Sons.
Hanson, C. (2014). In Search of Self: Exploring Student Identity Development: New
Directions for Higher Education, Number 166. Hoboken, NJ: John Wiley & Sons.
Undocumented tudents Equity to in-tate Tuition:
Reducing The Barriers
There exist policy ambiguities and variations at federal, state, and institutional levels related to undocumented student access to and success in higher education and this has created problems for these students. This study investigated specific policies and procedures to provide the resources and capital to assist undocumented students as well as reviewed key elements of showing the correlation of these difficulties with ethnic identity in access and equity to higher education that would help eliminate student's frustration. The study also illustrated that there is no accountability system surrounding the success of undocumented student's postsecondary education divide significant structure. Three research questions guided the study; a) Without the fundamental requirements met how will undocumented students achieve their goal to attain a degree, and seek a rewarding career? b) Is it unjust to extradite an illegal alien who has been living a constructive life and…...
mlaScott, W.R. (2004). Institutional theory: Contributing to a theoretical research program. Retrieved from http://icos.groups.si.umich.edu/Institutional%20Theory%20Oxford04.pdf
Spickard, P. (2007). Almost all aliens: Immigration, race, and colonialism in American history and identity. New York, NY: Routledge.
Taylor, E. (2009). The foundations of critical race theory in education: An introduction. In E. Taylor, D. Gillborn & G. Ladson-Billings (Eds.), Foundations of critical race theory in education (pp. 1-13). New York, NY: Routledge.
Despite increased student fees, the UC still encountered a $500 million shortfall or $2,500 per student. It has been undergoing severe pressure from the impact of the cuts. The quality of education at the U.S. has remained high, but there have been disturbing signs of erosion, nevertheless. The widening gap between the UC and the best private university has been alarming because the UC competes for the top teachers and students with these private universities. This widening gap should be a critical concern to the state and the federal governments because even excellent private universities are too small to meet California's or the nation's needs for a well-educated workforce in the future, to come up with innovations needed to fuel the economy and to generate jobs, and to introduce medical advances for the use and care of the sick and disabled. In the past decade, California's private research universities,…...
mlaBibliography
Clinton, P. (2002). The student aid conundrum. University Business: 4 pages.
Professional Media Group LLC
Darling, B.B. (2005). Hearing testimony. 5 pages. California Senate Subcommittee on Higher Education. Retrieved January 26, 2007 at http://www.ucop.edu/uersvp/speeches/Speier_Hearing_Nov_9_2005.pdf
Dervarics, C. (2006). Congress approves cuts to student loan programs. 1 page. Diverse Issues on Higher Education: Cox, Matthews and Associates
The thesis statement was made clearer by the author because the main points of writing were structured very well. Before the author was structured with the ideas, it was a rough draft and it shows that they took the time polish the paper up. Along with that, instead of using direct quotes, the author paraphrased to convey their ideas better. For example, if the author wrote any paragraph at first, leaving as a direct quote, it can make the essay choppy.
By paraphrasing these ideas about student loans, the author was able to set the tone better to make more personal between the author and myself, which made the paper flow much smoother than before. After reviewing this paper, I felt the changes were important to make the essay flow easier so that it could be more clear to the reader. In this process, I can see where the author used…...
OBUST SATISFICING ON COLLEGE STUDENTS DECISION-MAKING 1Effect of obust Satisficing on Students Selecting Colleges during PandemicIntroductionCovid19 was first detected in Wuhan China in late 2020, leading to the declaration of a pandemic whose effects are likely to be felt for years to come (Appleby et al., 2022). The disease presents with mild to moderate respiratory disease symptoms including difficulty breathing, lingering chest pain, and a stubborn cough that starts within two weeks of getting infected. To prevent the virus from spreading, nations put in place measures such as the use of face coverings, regular hand washing, rubbing of hands using an alcohol-based sanitizer, and maintaining physical distance from others (Appleby et al., 2022). The measures imposed, coupled with the virus direct impact, profoundly affected well-being and daily life, increasing anxiety levels, and reducing access to leisure and other forms of socialization (Appleby et al., 2022).As part of physical distancing requirements,…...
mlaReferences Appleby, J., King, N., Saunders, K. E., …& Duffy, A. C. (2022). Impact of the Coviud19 Pandemic on the Expreince and Mental Health of University Students Studying in Canada and the UK: A Cross-Sectional Study. BMJ Open, 12, Doi: C., & Blagg, K. (2021). Who is Taking the New Student Loans during the Pandemic? Urban Institute. Retrieved from https://www.urban.org/urban-wire/who-taking-new-student-loans-during-pandemic Intelligent.com (2021). After-Pandemic, Recent Events, Incoming College Freshmen Pursuing New Areas of Study. Intelligent.Com. Retrieved from https://www.intelligent.com/after-pandemic-recent-events-incoming-college-freshmen-pursuing-new-areas-of-study/ Kim, H., Krishnan, C., Law, J., & Rounsaville, T. (2020). Covid19 and the US Higher Education Enrolment: Preparing Leaders for Fall. McKinsey & Company. Social Sector Practice Report. Porto, N., Cho, S., & Gutter, M. (2021). Student Loan Decision-Making: Experience as an Anchor. Journal of Family and Economic Issues, 42(1), 773-84. Schwartz, B., Ben-Haim, Y., & Dasco, C. (2010). What Makes a Good Decision? Robust Satisficing as a Normative Standard of Rational Decision-Making. Journal for the Theory of Social Behavior, 41(2), 209-227. Wills, C. E., & Williams, C. S. (2022). Migration of American College Students. Worcester Polytechnic Institute, 21(7), 1035. http://dx.doi.org/10.1136/bmjopen-2021-050187 Chien,
Identify two new pieces of financial information that you learned about this week that will help you make informed financial decisions about your future and eventual retirement.
Personal financial management and financial planning can be daunting. It helps to learn more about the tools people can use to plan their savings and budget for the future. One of the things I learned this week that will help me make informed financial decisions is how to be a responsible borrower. For one, I never considered credit cards as being a form of lending. Essentially, people who forget that credit cards entail borrowing money from a bank can get into a lot of trouble with debt accumulation. Next, taking out loans can be tricky. Student loans tend to have reasonable interest rates, but any amount of interest is still going to add up over time. The less the loan principal, the less the…...
Annotated Bibliography
Appelrouth, J. I., & Zabrucky, K. M. (2017). Preparing for the SAT: A review. College and University, 92(1), 2.
In this article, Appelrouth and Zabrucky write for an audience of both educators and students. The purpose of the article is to show how preparation and personal qualities help students to score well on the SAT. It compares favorably to the study by Park and Becks (2015), which also focuses on who benefits from SAT prep. The study here shows that students have to hold themselves accountable and the teachers have to facilitate that process by working with them so that they know what aspects to focus on in order to succeed in the taking of the SAT. This work highlights the idea that the SAT can be successfully taken. It supports the work of this bibliographic topic by showing that individual differences and test preparation have to be considered by teachers if…...
mlaResources
Appelrouth, J. I., & Zabrucky, K. M. (2017). Preparing for the SAT: A review. College and University, 92(1), 2.Camara, W. J., Mattern, K., Croft, M., Vispoel, S., & Nichols, P. (2019). A validity argument in support of the use of college admissions test scores for federal accountability. Educational Measurement: Issues and Practice, 38(4), 12-26.Hyman, J. (2017). ACT for all: The effect of mandatory college entrance exams on postsecondary attainment and choice. Education Finance and Policy, 12(3), 281-311.Maruyama, G. (2012). Assessing college readiness: Should we be satisfied with ACT or other threshold scores?. Educational Researcher, 41(7), 252-261.Park, J. J., & Becks, A. H. (2015). Who benefits from SAT prep?: An examination of high school context and race/ethnicity. The Review of Higher Education, 39(1), 1-23.Richardson, C. C., Gonzalez, A., Leal, L., Castillo, M. Z., & Carman, C. A. (2016). PSAT component scores as a predictor of success on AP exam performance for diverse students. Education and Urban Society, 48(4), 384-402.Soares, J. A. (2012). The future of college admissions: Discussion. Educational Psychologist, 47(1), 66-70.Soares, J. A. (2012). For Tests That Are Predictively Powerful and without Social Prejudice. Research & Practice in Assessment, 7, 5-11.
Response to Jason
These two online field trips are especially important because each is part of the United States Department of Education: the Every Student Succeeds Act (ESSA) and the Transforming Teaching and Learning site. I appreciate the insight into how educators make tremendous personal sacrifices beliving in the value of their work in promoting higher quality of life in the society. For example, the author states, “The thoughts of spending $70,000-$100,000 for an education to receive a job in which you make $40,000 a year seems like a losing proposition for many would be education majors.” In spite of the horrendous statistics related to actual job or career outcomes, the field of education proves tremendously rewarding. For example, the Transforming Teaching and Learning site also includes information linked to leadership development among students. I agree that leadership development is crucial for young educators, but also for students in general.
The Every…...
1. Encourage students to take advanced courses in high school, such as Advanced Placement (AP) classes, Dual Enrollment courses, or International Baccalaureate (IB) programs, to challenge themselves and prepare for the rigor of college coursework.
2. Provide academic support services, such as tutoring, academic advising, study skills workshops, and time management resources, to help students develop the necessary skills for success in higher education.
3. Offer college readiness programs that focus on preparing students for standardized tests, such as the SAT or ACT, as well as assisting with the college application process.
4. Encourage students to engage in extracurricular activities and volunteer work,....
The academic performance of students in higher education institutions is influenced by various factors, including access to adequate financing. In South Africa, where higher education is often costly, inadequate financial resources can have a significant impact on the academic success of students. This literature review aims to examine the role of inadequate financing on the academic performance of first- and second-year social work students at an institution of higher learning in South Africa.
A study by Bloch, Moleketi, and Nkambi (2019) found that financial constraints were one of the main reasons why social work students in South Africa struggled academically. Many....
Navigating the Labyrinth of Adulthood: Unraveling the Most Challenging Aspect
The transition from adolescence to adulthood is often heralded as a momentous milestone, a time of newfound freedom and limitless possibilities. Yet, beneath the veneer of excitement lies a labyrinth of challenges that can test the limits of even the most resilient individuals. Among the myriad obstacles that young adults face, one stands out as the most formidable:
Striking a Balance between Independence and Interdependence
Adulthood demands a delicate balancing act between fostering independence and acknowledging our inherent interdependence. As we embark on the journey of self-reliance, we must learn to make decisions,....
I. Key Steps to Outline Before Going Back to College
II. Preparing for College Life
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