College students graduate with large sums of debt. This takes a financial and psychological toll.
The average student graduates from university with around $37,000 of debt. A report from LendEDU indicates that roughly 16% of students will have a debt to income ratio (calculated by dividing monthly income by monthly loan repayments) of over 20% upon graduation from college. This is without considering any other debt an individual may have, like credit cards, car payments or a mortgage. This debt is a financial burden and can often be crippling. It also weighs heavily on graduates’ mental health and can cause extreme stress and financial anxiety.
Unemployment is even more financially and mentally crippling. College reduces the chance of unemployment and improves job prospects. A college education is worth the debt incurred as it is the lesser of two evils.
[P1] Large debt has negative psychological and financial outcomes. [P2] Going to college incurs large sums of debt. [P3] Therefore, going to college is not worth the debt.
Rejecting the premises
[Rejecting P1] Unemployment has worse financial and psychological outcomes.