I. Pretttttttttttyyyyy stupid that one of the clearest overviews I’ve found of the student debt crisis was written for financial marketers: “10 Things Every Financial Marketer Should Know About the Student Loan Crisis.” Thing number one: There is a crisis: “By the time you’re finished with this article, you’ll see there are big problems (and perhaps big opportunities) in the student lending space.”
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.
"I get four years at McGill for a year at a U.S. college." More American students are applying to and attending colleges located in Canada as a way to rein in tuition costs.
I think it's underreported how incredibly nice the customer service agents at Sallie Mae can be about you not paying back your loan.
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.
>The Times's Choice blog is answering a few questions this morning about choosing between colleges after students have been accepted into a handful of them, and it's bringing back those memories from back when (dream schools, safety schools, financial aid packages!).
I assumed that finding a job in the industry would help me pay off the loans easily. I know my parents tried to talk with me about what this would mean in terms of debt, but being 17 and from a small town, I was dazzled by the prospect of NYU and, frankly, money in amounts over a couple thousand meant nothing to me. I had no frame of reference.
The link to email the CFPB or submit your ideas can be found here.