Sunday, January 10, 2010

Skyrocketing Student Loan Debt

One theme you will hear from me a lot is how our society is not investing in our people and that today's generations are pushing all of its obligations onto future obligations by using debt and cutting education spending (See Richmond's Attack on the Middle Class).

One more symbol of this is graduate school debt. There was an interesting article in the ABA Journal about how one-third of all law students expect to graduate with $120,000 of student loan debt. This is up from 19% of all law students just three years ago in 2006.

I hit on this theme a couple weeks ago in this article - Can We Afford to Cut Our Colleges. This is like starting off life with a mortgage. I have no idea how these kids ever save up the money to buy a house and start a life like my parents were able to do because of affordable state-supported colleges and graduate schools.

These trends are also true of college and other graduate school programs and are completely unsustainable.

2 comments:

  1. Dear Site Owner,

    I would like to say that your blog (http://scottsurovell.blogspot.com/ ) is well-written and it contains lots of useful and up-to-date information. We offer a unique and extensive line of Finance favors. Thousands of visitors view our site every week as they plan to get out of their financial problem or huge debt or any finance related solutions.

    The information and services offered on your site would be of great value to our visitors, and I believe, your visitors would find great value in our site. Because our two web sites are complementary rather than competitive, we see the synergy here as an opportunity for our mutual benefit.

    I hope you find our site to be interesting and useful. We are currently receiving over 50,000 thousand unique visitors per month and growing rapidly.

    Please e-mail your response or any questions to:

    dorothy786@gmail.com

    Thanks! We look forward to working with you.

    Warm regards,
    Dorothy Parker

    ReplyDelete
  2. Yeah.I agree with you.It's not that our parents were able to set up their and our life easily.Even they would have faced hardships.The difference is the Cost of living.It has just one direction on the graph-upwards.The most expensive of all of them is "education" but one cannot do anything but to pay for it as it is the backbone in setting up one's entire life.
    The authorities can minimise the ever increasing debts by employing more cheaper schemes.

    ReplyDelete