Student Loans: Difficulties in Acquiring Funding

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Student loans are an issue for a large percentage of the population across North America. From difficulties in acquiring funding, to having a future filled with simply trying to make ends meet, students all across north America are struggling; the worst part is that this headache could just be avoided altogether, and it would cost the average person a lot less than a 4-year university program costs now.

One issue that some students face is simply getting access to funding in the first place. If someone winds up in a scenario where their parents are unable to provide their income, they will be denied any form of loan, and will ultimately be unable to continue their education, preventing them from enriching their lives. It would be beneficial to both the government and to the students if there was a solution to this, as it would increase the amount of students able to study, thus vastly increasing quality of life.

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A secondary issue that’s faced in today’s society is the lack of livable wages. A personal example from a couple months back is that, while searching for the average salary of a reporter online, one of the job listings offered a salary of $0 a month. The rest of the didn’t offer a salary of any sort, and this demonstrates that a multitude of employment options give no information about their salary; they rely on the individual to be informed of the going rate for their field. This complicates a student’s budget post-graduation; if they’re uncertain how much their salary is, it isn’t possible to know if they can reliably pay off their loans (and interest from those loans) to the government.

One solution to this problem would be to follow in the footsteps of countries such as Norway, Finland, Sweden or even France, as they have free, universal university[1]. All this stress could be eradicated, and students could focus purely on their academics, rather than worry about the mountain of debt they’re going to have after their studies finish. This would, more likely than not, result in more taxes. However, the benefit of it would be invaluable as it would save money for the individual, in the same sense that universal healthcare does.

If this seems impossible, know that it’s not; Canada has already done this with healthcare. It’s hard to come up with an exact difference between healthcare costs for the US and Canada, as salaries vary from person to person, and thus, taxes do as well, but the average cost of paying taxes for 12 months is certainly cheaper than the cost of a major operation (even with insurance) in the US. 

Universal healthcare is beneficial because no one is denied healthcare if they don’t have insurance, or if they can’t afford it; It should be the same with higher education. This may be a problem with countries that have a larger population (such as the United States), but since Canada has only 37.6 million inhabitants, it’s much more feasible to attempt it, and the benefits greatly outweigh the drawbacks.

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