Student Loans paper. Persuasion - Argument Assignment

Student Loans
Student’s Name
Institutional Affiliation
Course Name/Number
Instructor’s Name
Due Date
I. Introduction
Each year, a significant number of newly graduated high school students leave home, relocate to new states, and sign papers accepting loans they may be unable to repay. Within months, a large number of those students are phoning their families, struggling to decipher where their money went. Without a guide, these scholars fail to understand how to correctly establish a financial plan or budget properly. The most effective technique of helping graduates evade these risks is making it compulsory for all high school students to take a personal finance class before graduation.
II. Discussion
Students who enroll in college/university immediately after high school would gain tremendously from participating in a finance course. Often, these students seek loans mainly to cover the costs associated with their education. According to an article written by Abigail Hess, individuals with student loans graduate with virtually $37,172 in debt (2018). This amount is the same as a 10% down payment on a $370,00 home, a brand-new Audi A4 ($36,000) or a swimming pool ($34,971) (Hess). Upon graduation, graduates rarely know exactly how much money they owe, and because bankruptcy cannot omit student loans, these graduates spend a significant fraction of their adult lives repaying the loans which have gained interest at this point. A finance course would be beneficial in circumstances such as these because it would teach students how to manage debt (and save money).
Most students who find it difficult to pay for college but still end up joining are more than likely to be in debt. As stated in an article by Peter Coy, student debt was greater than credit card debt; in 2011, it exceeded auto loans, and in March, it was reported that student debt had exceeded $1 trillion (Coy, 2012). Many graduates who find employment lack skills on how to manage their finances. These graduates often advance from receiving minimal incomes to earning a projected average salary of $50,556 per year (Poppick, 2015). Without education on techniques of properly man...