The Issue: The student loan/debt issue is one of the most powerful economic forces to hold back college graduates from economic success. In the past, allegations have been made of predatory banks that take advantage of students but in the last ten years the federal government introduced a program for the federal government to administer which many believe has made the problem even more devastating.
Your Assignment: Your friend knows you take business classes at Irvine Valley College and comes to you for advice about their college future. This friend wants to earn an Associate Degree, a Bachelor’s Degree, and a Master’s Degree in Business Administration (MBA) with little to no debt after graduation.
Extra Credit: The Student Loan National Crisis Issue
- This friend has a part-time job of 12 – 20 hours a week, which earns them $25,000 per year and can attend college/university full-time if they stay local.
- This money covers their expenses for their car, entertainment, and even provides them with $5,000 that they can apply for college each year.
- They have a bank account of $14,000 dedicated specifically for their college education.
- Also, if they stay local they their housing and food would be covered and not be a part of their financial needs.
- A two to four-page paper, which details a plan for them to earn their MBA with little or no financial debt from their college education after they graduate.
- The opening paragraph should state the “thesis” as to what the paper is about.
- Assume they will attend college on a semester basis with 12 – 16 credit hours a semester.
- Parking is $100 annually and their books costs will be covered by Aunt Betty and Uncle Fred provided your friend lets them know their progress semester by semester.
- Include a table which shows the College/University, the costs for tuition, the additional costs, and a timeline. The table can provide more information if you believe it appropriate.
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