From the
Economist.com - THIS year American student-loan debt surpassed credit-card debt for the first time. More students are borrowing more money than ever before in order to buy a commodity that is often of dubious value. Higher education has never been more expensive. The price of attending a public university doubled, after inflation, over the last two decades, and family income and student financial aid haven’t kept pace.1 As a result, students have no choice but to borrow, and more college students are borrowing more money than ever before. But a new analysis of federal financial aid records reveals more than just surging debt levels. Students are taking on more of the riskiest debt:
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Students are drowning in debt
From the Economist.com - THIS year American student-loan debt surpassed credit-card debt for the first time. More students are borrowing more money than ever before in order to buy a commodity that is often of dubious value. Higher education has never been more expensive. The price of attending a public university doubled, after inflation, over the last two decades, and family income and student financial aid haven’t kept pace.1 As a result, students have no choice but to borrow, and more college students are borrowing more money than ever before. But a new analysis of federal financial aid records reveals more than just surging debt levels. Students are taking on more of the riskiest debt: read more
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