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I am going to tell you all a true story:

One evening in 2007, Jan Yoder of Normal, Illinois noticed that her son Jason seemed more despondent than usual. Yoder had been a graduate student in organic chemistry at Illinois State University but after incurring $100,000 in student loan debt, he struggled to find a job in his field. Later that night, Jason, 35, left the family’s mobile home. Concerned about her son’s mood, Jan Yoder decided in the early morning hours to go look for him on campus, where a professor she ran into joined her in the search. The two of them discovered his body in one of the labs on campus and called campus police at 8:30AM. 32 minutes later, Jason was declared dead due to nitrogen asphyxiation.
http://economichardship.org/...
Even with the death of Yoder, student loan companies had no mercy on his soul:
While she was preparing for Jason’s funeral, student debt collectors were still phoning her about the money her son owed. As reporter David Newbart wrote in a 2007 article for Chicago Sun Times, she was gruff when confronted by these calls. “You are part of the reason he took his own life,” she told them and then hung up the phone.
Yoder is not alone. This is a very grim reality for many students, who after graduating from college, cannot find a job in their respective field, are stranded in minimum-wage jobs or jobs, which do not pay a living wage or require a college degree and feel utterly helpless
Suicide is the dark side of the student lending crisis and, despite all the media attention to the issue of student loans, it’s been severely under-reported. I can’t ignore it though, because I’m an advocate for people who are struggling to pay their student loans, and I’ve been receiving suicidal comments for over two years and occasionally hearing reports of actual suicides. More people are being forced into untenable financial circumstances as outstanding student loan debt has surpassed $1 trillion. And people simply aren’t able to pay all the money they owe. In the past few years, the rate of defaults for federal loans has increased at an alarming rate. According to the Department of Education, those recent graduates who began repayments in 2009, 8.8 percent had already defaulted on their federal loans. That compares to 7 percent in 2008. Currently, 36 million Americans have outstanding federal loans. I can’t help but wonder how many of those millions are feeling distressed or suicidal, or how many have attempted suicide because of all that debt hanging over their heads.
While there has been no formal study to map the correlation between student loan debt and suicide, studies have been done, which prove that long-term unemployment is a factor in rising suicide rates:
A statement published on the website by the American Association of Suicidology (APS) notes, “There is a clear and direct relationship between rates of unemployment and suicide. The peak rate of suicide in 1933 occurred one year after the total US unemployment rate reached 25% of the labor force. Similar findings have been documented internationally. At the individual level, unemployed individuals have between two and four times the suicide rate of those employed.” The document adds, “Economic strain and personal financial crises have been well documented as precipitating events in individual deaths by suicide.”
And there is no running away from student loan debt while one is still alive. The only options it seems are to somehow manage to pay back loans or die trying.
Those who default on their student loans are at risk of having their bank accounts drained and wages garnished — more than 30 years after the fact, according to a Bloomberg report.
http://www.huffingtonpost.com/...
Additionally,
Student-loan debt in the United States totals $1 trillion -- eclipsing the amount owed on credit cards. The average borrower graduating from a public or private institution owes $25,250. When not repaid, the U.S. Education Department is at liberty to turn borrowers’ names over to federal prosecutors, who in turn hire private law firms to retrieve the money. These firms then take a cut for themselves.
As a result of a 1998 change in federal law, student loans can rarely be discharged. Deanne Loonin, an attorney with the National Consumer Law Center in Boston, told Bloomberg that student-loan borrowers who default are being pursued and punished more severely than almost any other kind of debtor -- despite President Obama’s public statements emphasizing leniency on the matter.

Furthermore, the government does not need a court order to garnish money from student loan debtors:

Even without a court order, the Education Department can seize portions of borrowers’ paychecks, tax refunds and Social Security payments. Last year, the department retrieved $11.3 billion, and expects to collect 85 cents of every dollar that defaults.
Yet free access to a college education is prevalent in countries with less GDP than the United States, which is a real shame.

Here are a few of them (some of these are actually third world countries):

    Argentina
    Brazil
    Denmark
    Finland
    Greece
    Hungary
    Malta
    Mauritius
    Morocco
    Norway
    Scotland
    Sri Lanka
    Sweden
    Trinidad and Tobago
    Barbados
    Kenya
    Peru
http://en.wikipedia.org/...
I believe in order to relieve Americans of the student loan crisis it is imperative to support the principles outlined by Occupy Student Debt:
The Four Principles/Beliefs
* Tuition-Free Public Higher Education
The single, largest step we could take to alleviate future student loan debt would be to guarantee tuition-free education for students enrolled at public colleges and universities. In the case of systems in California and New York that were formerly free, this would be a restoration of the status quo. For others, it would be a restoration of the spirit of the GI Bill, which provided a free college education to tens of millions, and established U.S. higher education as a democratic gold standard worldwide. According to a recent estimate, drawn from Department of Education data, the cost of covering tuition at all the nation’s two- and four-year colleges and universities would be about $70 billion. Put in the perspective of the federal budget, a recent audit found that the Pentagon “wastes” this sum in unaccountable spending every year. Ending the Bush tax cuts ($80 billion annually) would easily cover this cost.
*
Zero-Interest Student Loans
Student loans are not consumer loans, and they should not be packaged as if they were consumer credit debt. At a time when a university degree is considered to be a prerequisite for employment in the knowledge economy, debt, for most students, is a precondition for entry into the workforce. They cannot work unless they have gone into debt–a condition akin to indenture. This arrangement does not correspond in any meaningful way to a consumer choice. Zero-interest student loans are the only justifiable kind of lending under these circumstances. The current scenario, in which government agencies, banks, and other private lenders set extortionate rates and extract lavish profits is corrupt and abhorrent.
* Private Colleges Must Open Their Books
Students at private and for-profit universities and colleges have a fundamental right to know how their tuition dollars are being allocated and spent. These institutions are fiscally dependent on student loan debt, they enjoy a tax-free status, and they are beneficiaries of federal largesse in all sorts of ways. Withholding information about the conduct of their fiscal affairs is a violation of the ethos of shared governance and transparency that liberal institutions like universities should be promoting, and practicing.
*
Student Debt Written Off In The Spirit of Jubilee
The student loan industry has profited from borrower vulnerability through predatory lending practices such as compounding interest rates, high collection fees, and few consumer protections. Inflating tuition costs have been financed through student debt that will soon exceed 1 trillion dollars. The morality of perpetuating this unjust system by continuing to pay these predatory loans is questionable. In times of fuller employment, the student loan debt system has yielded no end of private suffering and humiliation for at least two generations of debtors. In a time of chronic underemployment–and the worst may be yet to come–the burden is beyond tolerance. Immediate forgiveness in the spirit of a jubilee, where the injustice of an unpayable debt is redeemed through a single, corrective act, is the only just response to this crisis.
http://www.occupystudentdebtcampaign.org/....
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Comment Preferences

  •  Fuck college. (5+ / 0-)

    In New Normal America, the only way to beat the system is to turn your back on it.

    I absolutely agree that what you write is an outrage and a tragedy. But outrage piles on top of outrage, tragedy on tragedy, and we've got to find a new way to fulfillment. Because what was, is gone, and will never be again.

    And yet, life is precious. And yet, if you turn your back on the fucked-up system, you are commiting an act of sanity.

    Go with the flow, and find a way to love the life you've been given. Trite? Nope. The hard, cold, strangely exhilarating truth.

    http://otherwise-occupied.tumblr.com/ @OOccupied

    by jvantin1 on Mon Jul 02, 2012 at 06:22:02 PM PDT

    •  rec, but then I've had 5 Oberons n/t (1+ / 0-)
      Recommended by:
      JanL
    •  Borrowing to pay for college IS nuts (6+ / 0-)

      I t was bed enough 30 odd years ago when my degree cots what a YEAR costs for my son - and interest rates were far lower but today.......

      I am a firm believer in college and believe that there is merit to 'education for education's sake'.  I think other nations are right in providing free or minimal cost college for their citizens.

      However we are stuck with the current situation that exists in this country.  

      Given the current situation, you have to be rational in how you approach college.   If you are not a trust fund kid you need to look at employment prospects for a degree - you are a fool if you don't.   I would have loved to get a history degree.  I got an engineering degree because I NEEDED a job when I finished college (as is I worked 40 hours a week for most of the time I was in school).  I actually changed my major because Civil Engineering jobs were hard to come by in the late 70's.  My wife got a Fine Arts degree  WITH a business minor, not that the latter helped much - she had a decade of godawful jobs before getting lucky.  

      Being blunt, going to college for the sake of going to college is nice only in the abstract if you have worry about how to pay for it.    

      If you have to borrow to pay for college you'd better be damn sure you can afford to pay off those loans.

      Used to be that getting a basic accounting degree used to guarantee you employment but even that no longer is the case.  Too many degrees only offer employment possibilities with advanced degrees TEACHING the same subject - and the competition for those jobs is intense (and the pay not so great).    Borrowing to get a PhD in Women's studies, Philosophy, Literature or name the arcane area of knowledge is like doubling down on a mediocre poker hand.......

      Law school is a huge scam - as a number of attorney friends will attest to.  An MBA is also an expensive risk.

      Too many people go to college without doing the fundamental math evaluating how affordable it is and what the payback is.   When spending tens - hundreds of thousands of dollars - you should view it as an investment and evaluate the overall experience appropriately.   Instead we are sold a 'dream' that is often only that.

      BTW - working as a mechanic or electrician or carpenter can often provide as good or better a life than getting some arbitrary college degree.

      Life isn't fair but you should try to leave it fairer than you found it.

      by xrepub on Mon Jul 02, 2012 at 09:33:30 PM PDT

      [ Parent ]

  •  Thank you for writing these student loan debt (10+ / 0-)

    diaries, Shawn. As one of the many Americans with a six figure student loan debt, and as someone who's been financially struggling for half of his life, I appreciate your reporting tremendously. The internet should be absolutely  flooded with articles like these daily.

    The principles outlined by Occupy Student Debt are exactly what's necessary to reverse the destructive and deeply moronic trajectory this country has been on for decades, regarding access to, and funding for, higher education.

  •  Unless Progressives suddenly gain a whole (9+ / 0-)

    heaping mess of power I don't see us getting free education again and I don't foresee a jubilee.  What we can more easily push for is more affordable education.  The cost is quite frankly, ridiculous.

    "I watch Fox News for my comedy, and Comedy Central for my news." - Facebook Group

    by Sychotic1 on Mon Jul 02, 2012 at 06:46:16 PM PDT

    •  And a jubilee punishes people who didn't... (0+ / 0-)

      ...incur debts for college in the first place.  I don't even think college costs are an issue.  The economy for college grads is the only issue.

      Romney '12: Bully for America!

      by Rich in PA on Mon Jul 02, 2012 at 07:35:53 PM PDT

      [ Parent ]

      •  No matter how good the economy, 100k (5+ / 0-)
        Recommended by:
        Shawn Russell, marykk, dilutedviking, JanL, Caj

        in college debt is ridiculous unless you are maybe talking about an MD.

        "I watch Fox News for my comedy, and Comedy Central for my news." - Facebook Group

        by Sychotic1 on Mon Jul 02, 2012 at 10:29:48 PM PDT

        [ Parent ]

      •  People who didn't incur debts for college are (2+ / 0-)
        Recommended by:
        JanL, Shawn Russell

        mostly:

        1) Trust fund brats

        2) Older people who went to college at a time when it was largely funded by the state

        Those who fall under category "2" would do well not to scream "I'm not paying for your Art degree!" when they were able to attend a largely state funded university with low tuition and bankruptcy protections.

        •  But this is a false dichotomy anyway. (0+ / 0-)

          There is a big third category, those who have incurred some debt, but less than 20K of it.

          Those people are not trust fund brats or people who went to college in the Days of Yore.  I encounter students today who have less than 20K of debt, and achieved this on their own.

          My head says "No" but my heart says "Yes". And then my liver says "What?" and my butt's all like "Farrrrrrt" --jbou

          by Caj on Tue Jul 03, 2012 at 07:37:42 AM PDT

          [ Parent ]

          •  True, that third category of debtors owing less (2+ / 0-)
            Recommended by:
            semiot, Shawn Russell

            than 20K does exist, but a sizeable chunk of student loan debtors owe considerably more than that. According to this recent NYT article, the average student loan debt last year was $23,300, with 13% of student debtors owing more than $54,000.

            A Generation Hobbled by the Soaring Cost of College

            (At least) four things need to happen:

            1) Bankruptcy protections for private student loans need to be restored.

            2) The terms of the federal IBR program need to be changed so that no more than 10% of one's gross monthly income goes toward repayment (currently, it's 15%). Additionally,  loan forgiveness should occur after 5 years of public sector work (instead of 10 years), or 10 years of private sector work (instead of 25 years).

            3) College tuitions need to be capped and/or rolled back.

            4) State funding needs to return to pre-Reagan levels.

            Will any of this happen? It should, but I'm not optimistic. America seems to love needless suffering.

            •  "does exist" is an understatement (0+ / 0-)

              That third category is the majority of debtors.  

              Check out these numbers: if you look at debtors who get a bachelor's degree at a public or private university, about 75% (public) and 60% (private) are in this third category.

              I think that Rich in PA's comment still applies here:  a lot of people in this third category have small debts because they chose a cheap school, worked through college and cut other corners.  A debt "jubilee" would punish these people at the expense of those who went to an expensive college and/or took out extra loans for living expenses.

              I could imagine a debt "jubilee," but only if it forgives up to a set threshold, for example a constant times the in-state tuition rate for your state.  On the other hand, this wouldn't make sense either, because it would forgive the debts of those who are most able to pay them off without help.

              My head says "No" but my heart says "Yes". And then my liver says "What?" and my butt's all like "Farrrrrrt" --jbou

              by Caj on Tue Jul 03, 2012 at 10:00:57 AM PDT

              [ Parent ]

  •  I don't agree with this kind of advocacy. (3+ / 0-)
    Recommended by:
    johnny wurster, TooFolkGR, jessical

    Suicide is always a deranged answer to economic hardship.  It's a deranged answer to anything.  Suicides are not the basis for discussions of public policy.

    The real abuse here was Illinois State University taking in grad students without fully funding them.  It's not a university whose doctoral graduates can routinely get good jobs, and at some point they shouldn't be allowed to take money from gullible people.

    The list of countries with free college education is a nonsensical mix of genuinely prosperous countries where the guarantee is real, middle-income countries where it's an aspirational goal that's quasi-met by cloning seriously bad universities, and poor countries that can't even get a majority of their populations into secondary school.  

    Romney '12: Bully for America!

    by Rich in PA on Mon Jul 02, 2012 at 07:34:43 PM PDT

    •  you mighy want to back off on that deranged thing. (11+ / 0-)

      It clearly isn't the best answer, but for those feeling hopeless and in the hands of desperation and mental illness, things can be quite dark. Your answer does nothing to alleviate that, and mostly just puts blame on the victim, that they should respond better to desolation.

      You are correct in that the human condition is not the basis for discussion of public policy. Far from it. Try again, this time with empathy.  

      Anyone who scoffs at happiness needs to take their soul back to the factory and demand a better one. -driftglass

      by postmodernista on Mon Jul 02, 2012 at 07:55:53 PM PDT

      [ Parent ]

      •  The human condition is the only basis... (5+ / 0-)

        for discussion of public policy!

        But I agree that R in PA's written words could be interpreted as being insensitive... Tone can be difficult to convey and interpret in these comment strings...

        This tragic story serves as a somewhat dramatic starting point to what is as much a discussion of economic opportunity as it is about educational policy.

        The peak rate of suicide in 1933 occurred one year after the total US unemployment rate reached 25% of the labor force.
        Despair and feelings of worthlessness logically increase in populations unable to find paths toward economic independence. The stress of not being able to feed, cloth, and provide shelter for self and family would be an awful burden to bear. It is also natural to find purpose and meaning in one's work...

        The discussion of education is complex. I read a range of opinions and statistics on the value of a college education. My sense is that those with at least an undergraduate degree are finding greater opportunities than those without. But, I am sure that certain fields of study are in greater demand than others. I think Rich in PA makes a good point that for profit education does as any other business, and sells its services. Under our present system, one needs to carefully consider the return on the investment in one's education...

        I agree with what seems to be the Diarist's basic premise that the commodification of education is a problem in our country. The latest credit bubble is in student loan debt...

        I do not know what the current interest rates are on student loans. As I recall, I was paying around 4-5% in the 1990's. I don't know how that compares to rates on consumer credit for the same period, but by today's standards it seems low. However, I certainly agree with this excerpt:

        * Zero-Interest Student Loans
        Student loans are not consumer loans, and they should not be packaged as if they were consumer credit debt. At a time when a university degree is considered to be a prerequisite for employment in the knowledge economy, debt, for most students, is a precondition for entry into the workforce. They cannot work unless they have gone into debt–a condition akin to indenture. This arrangement does not correspond in any meaningful way to a consumer choice. Zero-interest student loans are the only justifiable kind of lending under these circumstances. The current scenario, in which government agencies, banks, and other private lenders set extortionate rates and extract lavish profits is corrupt and abhorrent.
        If we as a country, can make 0% loans to banks from the Fed discount window, then we can certainly make 0% loans to students seeking post secondary education commensurate with their talents and aspirations.

        The Diarist points out the may countries in which such education is provided free of charge. This reminds me of a trip I took to Argentina as part of a summer study program sponsored by the school where I studied Architecture.

        We visited the Buenos Aires University of Architecture. I don't recall the exact enrollment, but it seemed that the student body numbered in the thousands.

        Everyone with the aptitude and desire to study there was accepted and received a professional degree for free. One of the recent graduates showed us around the city... in the taxi that he drove because he could not find work as an architect...

        In examining the issue of "higher" education, we must ask ourselves: "Who are we educating, and why? Are we educating to meet economic demands for a trained workforce, or are we educating because our Democracy requires an informed Citizenry with a level of knowledge and training beyond high-school?

        Are educational institutions just another form of business, or should they be considered part of the Public Commons? I would argue for the latter, but struggle to reconcile the fact that would still seem the need for some rationing of resources based on the expected return on the investment in the individual by his / her society.

        Thanks for the Diary, Shawn!


        I'm a "No Rate" pariah. So when I give a comment "+110% n/t", please consider that a recommend. (That's my workaround fix to participating in this community!)

        by The Angry Architect on Mon Jul 02, 2012 at 09:28:38 PM PDT

        [ Parent ]

      •  Actually one of the problems in Japan is that (0+ / 0-)

        in some cases suicide was the best solution to financial hardship due to the fact that the life insurance payout would take care of their debts and keep their family fed rather than starving to death.

        There is no saving throw against stupid.

        by Throw The Bums Out on Tue Jul 03, 2012 at 03:05:22 AM PDT

        [ Parent ]

        •  That Doesn't Make it the "Best Solution" (1+ / 0-)
          Recommended by:
          Shawn Russell

          ...unless finance is all that matters.

          I realize there are other cultural factors of course.  

          But suicide doesn't actually "solve" anything compared to what it breaks.

          Too Folk For You. - Schmidting in the Punch Bowl - verb - Committing an unexpected and underhanded political act intended to "spoil the party."

          by TooFolkGR on Tue Jul 03, 2012 at 04:39:18 AM PDT

          [ Parent ]

          •  Unfortunately, in some cases finance is (1+ / 0-)
            Recommended by:
            Shawn Russell

            all that matters depending on what the laws regarding bankruptcy and welfare assistance are.  In fact, improving the welfare system was one of the ways they are working to reduce the suicide rate.  Should the welfare system here (in the US) keep being cut you could see the exact same situation here.  Especially if they make it a crime to be unable to pay your debts punishable by a long prison sentence in a maximum security prison.

            As an extreme example, if the choice was between killing yourself to pay off all your debt or having you and your family put in a (Victorian era) debtor's prison where you will all likely starve to death (as you wouldn't have enough money to pay for your own food) which one you go for?

            There is no saving throw against stupid.

            by Throw The Bums Out on Tue Jul 03, 2012 at 06:55:35 PM PDT

            [ Parent ]

    •  Utter nonsense (4+ / 0-)
      The list of countries with free college education is a nonsensical mix of genuinely prosperous countries where the guarantee is real, middle-income countries where it's an aspirational goal that's quasi-met by cloning seriously bad universities, and poor countries that can't even get a majority of their populations into secondary school.
      Some of those "prosperous' countries have high taxation and are more socialized than we are.  Norway, Sweden, Finland and Denmark comes to mind.  They not only have some of the highest quality healthcare but one of the most highly educated population on the planet.  We should be trying to emulate them, not mocking their 'aspirational goal that's quasi-met by cloning seriously bad universities'.  Oh and last I checked some of our universities weren't bastions of higher education either.  

      As for all that drivel about poor countries, well don't you think that their goal for getting out of poverty maybe has something to do with educating their population so that they can compete on a global marketplace and stop being poor?  Argentina, Brasil and Peru are such countries where there are many people who as you say can't get into secondary school, yet the people who are educated are all coming here and kicking our ass.  Working on Wall Street and Manhattan, starting businesses and then taking their expertise and money and going back so that their country grows while ours sinks under the weight of student debt.  

      It's this kind of thinking that will doom us in the future.  Poorer nations are rushing to educate their masses, even if it means by having them educated in bad universities.  In the meantime we are making higher education more and more difficult.  Countries like Portugal are requiring their kids learn 3 languages including English and by 3rd grade every kid has a laptop and is computer literate.  In two generations Portugal will go from being a third world nation where people didn't have centralized plumbing and had to use outhouses to a nation where the young are not only highly educated but computer literate and able to work in almost anywhere in the world.  Our kids can barely speak English properly.  

      This is your world These are your people You can live for yourself today Or help build tomorrow for everyone -8.75, -8.00

      by DisNoir36 on Tue Jul 03, 2012 at 04:43:28 AM PDT

      [ Parent ]

    •  This is an important point (0+ / 0-)
      The real abuse here was Illinois State University taking in grad students without fully funding them.
      A PhD program is not supposed to cost any money.  It's supposed to waive your tuition and pay you a stipend for your living expenses.

      If someone takes on 100K in debt to be a graduate student, that student is being shafted by the university as much as he is being shafted by a lender.  It's like an employer agreeing to let you work for them if you pay your own salary---and a lender standing by to give you a loan that simulates a paycheck.

      A PhD program should not even admit a student who intends to self-fund using a loan.  

      My head says "No" but my heart says "Yes". And then my liver says "What?" and my butt's all like "Farrrrrrt" --jbou

      by Caj on Tue Jul 03, 2012 at 07:45:34 AM PDT

      [ Parent ]

  •  You could join the military.... (3+ / 0-)
    Recommended by:
    Shawn Russell, marykk, dilutedviking

    and get college paid for....

    Isn't that one of the 'selling points' made by recruiters? ?

    Of course the suicide rate for vets is at record levels - providing you make it through your service without getting killed or maimed.....

    Life isn't fair but you should try to leave it fairer than you found it.

    by xrepub on Mon Jul 02, 2012 at 09:10:57 PM PDT

    •  When America isn't busy trying to starve its' poor (3+ / 0-)
      Recommended by:
      JanL, Shawn Russell, JVolvo

      to death, it's throwing them in front of gun fire with the promise of an education they couldn't get otherwise. The wealthy and privileged of this country view as nothing more than human shields and/or cattle.

      A country which takes cruel advantage of its' poor by paying for their education under the condition that they undergo emotional and/or physical torture is a country infected with deep, systemic moral rot.

  •  yeah ok but (2+ / 0-)
    Recommended by:
    JVolvo, postmodernista

    Said it before and will again.  I'm 47.  I just finished a B.S. at a state college with an excellent repuation.  It cost about 28K of debt.  I think that was fair.  I think its fair for a 22 year old, too.  100k for a bachelors is not fair, unless you're a Romney.  But 20-40k, the median?  

    We need to abolish for-profit colleges.  And we need better student loan laws.   But we are not ever getting back free public universities. We might get fewer of them though.  That would not be a win.

    Debt is often part of why people find life unendurable.  But an unendurable life has a larger social context. I don't agree completely with Rich in PA, above, about never using suicide in public policy discussion.  But neither is it a trump card in such a discussion -- it is a measure of desperation and pain, of which there are multiple causes.  A society in which a newly-minted organic chemist kills themselves over student loan debt has other contributory problems.

    ...j'ai découvert que tout le malheur des hommes vient d'une seule chose, qui est de ne savoir pas demeurer en repos dans une chambre.

    by jessical on Tue Jul 03, 2012 at 07:08:43 AM PDT

  •  One issue ignored by "Four Principles" (1+ / 0-)
    Recommended by:
    Shawn Russell

    Even if you have completely free tuition, kids can easily rack up $50,000 in debt by taking out a loan for living expenses.  

    Lenders are always eager to extend that debt, and kids are easily convinced to take a loan---not just by lenders, but by the increasingly country-clubby culture of college, and by the astounding flood of bad advice they get from parents, peers, the Internet and teachers.

    On top of that, we now have a weird culture of incognizance, where many students borrow large sums without even remembering or taking note of how large they are.  They find out what they borrowed after they leave college; imagine buying a house, living in it for 4 years and only then learning how much it cost and what your mortgage payment will be.

    Tuition reform and loan reform has to be coupled with debt education.

    My head says "No" but my heart says "Yes". And then my liver says "What?" and my butt's all like "Farrrrrrt" --jbou

    by Caj on Tue Jul 03, 2012 at 08:01:08 AM PDT

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