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Students are the world's biggest asset. Yeah, sure but at what cost. Off late, in this fast paced world of AI and digitisation, pursuing higher education in a renowned University is every parent's and student's Dream. And in that quest, search for the right student loans start. But the underlying argument at hand is "Do these students exploit ' in the bargain and/or are they worth it.
With a heavy heart, some parents say that student loans have quickly become the most exploitative, unethical and deceitful loan systems in the financial market.
It starts with hassled paperwork, looking for witnesses, high interest rates, compound interest(in some cases) and finally the pay back amount. There seems to be some kind of ambiguity in all the above as none of the parties applying for these loans(parents+students) seem to be totally aware of the final repercussions on their pocket. Someone could just go through this tedious process in the hope that they will in the future be able to live their dream life
On the other side of the spectrum, some advocate student loans in the pretext that that will fetch the students a dream University, shining degree, perhaps a lucrative job opportunity and of course improving one's credit scoring based on the repayment record
Let's see our two teams fighting it out and claiming their deal whether student loans are exploitative or not.
Please note : We would request all the participants to join on time. Late joiners will be allowed to the masterclass as spectators . Join on time through our Fluentlife app. Some Questions which will help you prepare for this topic :
1.Don’t you think by taking a student loan a person is starting his adult life with a debt?
Student loan debt can get in the way of your other financial & life goals, so why should one take it?
The penalties for defaulting in loan payments include added fees, added interest and wage garnishment. So why should it be encouraged or supported?
Don’t you agree that student loans actually make higher education more attainable for those who don’t have other funding options?
With the help of this loan, students are able to attain a successful and stable career, so how is it exploitative?
You are loaned money to receive higher education and after leaving college you pay it back at a low interest rate, which you can deduct off your tax form, and only a burden for 10 years unless you refinance to make it longer. Who exactly do you think is exploited in this arrangement?
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