People tend to become defensive just before a debt crisis explodes. Those with the most to lose want to postpone the inevitable. Student debt is nearing this critical stage. Despite the claims of colleges and the government, there is plenty to worry about.
Our higher education system is financially dependent on student loans. Examine the table below, which compares student loan tuition payments at various Massachusetts schools. None of these institutions could survive without the money that flows from loans. Private, not-for-profit colleges and universities receive upwards of 40 percent of their tuition revenues when the government wires cash into their accounts — money students must repay. Even worse, public colleges are dependent on government loan payments for more than half of their tuition and fees.
View the Original article
Bob Hildreth: Whistling Past the Graveyard on Student Debt
No comments:
Post a Comment