Actually, I’m convinced that the high cost of college is being driven by the ready availability of loan money. And it will just get worse until we stop lending outrageous sums to people who have no prospect of ever paying it back.
Student Loans Weighing Down a Generation With Heavy Debt – NYTimes.com.
The Government Accountability Office has finally caught up with me and the New York Times: http://www.huffingtonpost.com/2014/09/11/seniors-education-department-student-debt_n_5807820.html
“At least 22,000 Americans aged 65 and older had a part of their Social Security benefits garnished last year to the point that their monthly benefits were below federal poverty thresholds, according to the Government Accountability Office.”
Students of Corinthian Colleges, Inc., Challenge Education Department By Refusing To Repay Federal Student Loans:
We ain’t never going to get any of that student “loan” money back. Current total is about $1.25 trillion (http://www.finaid.org/loans/studentloandebtclock.phtml)
The students at Heald College want to get their loans forgiven because they were misled by the college. Let me reiterate: we ain’t never getting that $1.25 trillion (total in student loans) back.
Latest student loan article at HuffPO: http://www.huffingtonpost.com/2015/06/04/corinthian-colleges-loan-forgiveness_n_7492908.html?utm_hp_ref=business&ir=Business