“Even at elite colleges, most students leave school without a strong enough grasp on how to totally revitalize the manufacturing, housing, automotive, and health care industries of an entire country.”
Rohit Chopra, the Assistant Director for Students at the Consumer Financial Protection Bureau, is doing an AMA on student loans right now on Reddit. Ask him a question! Or lurk in the threads!
Yesterday she introduced a piece of legislation (her first!) that would cut student loan interest rates to the rate banks pay to borrow money (when rates rise in July, students will pay nine times what banks pay). WARREN FOR EVERYTHING.
I like the initial premise of this piece by Kevin Carey, the policy director of a think tank named Education Sector, in The New Republic—the idea that media outlets like to post sad stories about college graduates who are unable to find jobs in their fields of studies so they end up accepting work that doesn’t necessarily require a college degree (i.e. bartending, barista-ing), which ultimately devalues what a college degree is worth these days.
Matt Phillips posted a series of charts at The Atlantic explaining the student debt crisis, but really, saying that college tuition has been rising stupidly fast pretty much sums it up.
For example, you can pay them slowly. Or you can pay them quickly. Or you can not pay them at all.
Penn State’s literacy program says: “The real problem is not the rising cost of education, it is in the lack of financial planning and lack of financial literacy skills of making sound financial decisions.” Um, really?