Henry Ford
Footballguy
https://blogs.wsj.com/dailyshot/2018/01/09/the-daily-shot-u-s-student-debt-outstanding-approaches-1-5-trillion/
This is a real problem. I don't think anyone disagrees with the fact that to continue to lead and outpace the rest of the world economically, we need an educated populace - more educated than ever before. Frankly, disagreeing with that would be disqualifying as far as being worthwhile to listen to on global economics. Since 2008, student debt has gone from $600 Billion to $1.5 Trillion. It's simply unsustainable, and continuing to rise.
Student loans now account for over 50% of the assets on the federal government's balance sheet. It's nearly six times the amount of "tax receivables" counted as government assets. I don't know what the solution is, here, but this has to be fixed. "I owe my soul to the company store" is quaint compared to this. It's a lifetime of servicing debt to the federal government in exchange for becoming the kind of worker this country needs in the current millennium.
This is a real problem. I don't think anyone disagrees with the fact that to continue to lead and outpace the rest of the world economically, we need an educated populace - more educated than ever before. Frankly, disagreeing with that would be disqualifying as far as being worthwhile to listen to on global economics. Since 2008, student debt has gone from $600 Billion to $1.5 Trillion. It's simply unsustainable, and continuing to rise.
Student loans now account for over 50% of the assets on the federal government's balance sheet. It's nearly six times the amount of "tax receivables" counted as government assets. I don't know what the solution is, here, but this has to be fixed. "I owe my soul to the company store" is quaint compared to this. It's a lifetime of servicing debt to the federal government in exchange for becoming the kind of worker this country needs in the current millennium.