Student Debt Proposal

Introduction

As current students, we value the fiscal effort and support of the university in lowering education rates. We recognize the many scholarship options that are available on the Indiana University website and the resources the Office of Bursar provides. These scholarships provide financial assistance to students who are academically successful and at the top of their graduating high school class. However, despite the financial assistance, many students graduate from college with a substantial amount of debt because they are not aware of the consequences. College debt is a serious problem current students and graduates face. Payments are being made many years after completing college. However, we have composed an informative debt management plan that will occur not only within the first year students enter college but also throughout their academic career.

Indiana University should require new students to participate in a one-credit financial aid class during their orientation. Students come into college with no concept of the threat of debt. Only after college, students are aware of their mass amount of debt and how to deal with it. Students who are borrowing excessively should be required to undergo additional debt counseling every year they are attending college. Students will be forced to understand the economic reality of attaining a college degree. Debt causes physical and mental distress to its victims. Relationships and families are affected along with the person held responsible to pay off the loans.

In an attempt to find an educated viewpoint on student debt, we hope to research current options that Indiana University and other University’s can provide. The research we will conduct will put forth: (A) A detailed analysis of the problem, (B) Our plan of action, (C) The estimated costs, (D) and the resulting benefits of the plan.

Details