The next bailout will be with student loans: White House takes first steps in allowing a bankruptcy option for student debt. $1.2 trillion in student debt outstanding.
It truly is absurd when you hear people moralizing that people should pay their student debt when virtually every other debt class can be discharged through bankruptcy. You can go to Las Vegas, run up $50,000 in credit card debt for a wild night, and if you are unable to pay it back, no problem. […]
The revival of the American debt machine: auto loans, student debt, and credit card debt surge in latest report. Total non-housing debt now at $3.15 trillion.
Last week while going through mountains of credit cards offers, it felt as if we were in 2005 and 2006. Even last year, the cold calls started and it seemed like the debt machine was back and alive. This is helpful news for consumers given that half of Americans are living paycheck to paycheck. Now […]
Profits of doom: For-profit colleges are the resurrection of subprime mortgage lenders for the college industry.
At a time when the cost of a college education is being thoroughly questioned, there is one area we should all agree on. For-profit colleges are largely a distraction to fixing our higher education system and operate as the subprime lenders in college education. For-profit colleges claim they are trying to provide an education to […]
The mega inflation in college tuition: Since 1985 college tuition costs have soared by 538 percent. No surprise that total student debt is now over $1.22 trillion.
There was a time when college tuition was reasonably priced in the United States. In fact, college was downright cheap. These were the days when people worked a few hours a week at minimum wage jobs and were able to pay off their tuition on a semester basis. Too bad most of the new jobs […]
Is going to college worth it? College tuition has increased at a faster rate than housing, energy, food, and medical care costs over the last decade.
For an entire generation it was an easy question to answer. Is college worth it? Absolutely. There was little debate regarding the “worth” of a college education. Of course this question was usually asked during more affordable times and not when $1.2 trillion in student debt was out sloshing about in the economy. I think […]
Student debt becoming a larger albatross for economic growth: $1.2 trillion in student debt is outstanding and many college graduates working in jobs that don’t require their degree.
There was a time when going to college made sense in every feasible way. It made sense professionally, economically, and many college graduates have a wonderful time in the process of completing their degrees. Most would argue that learning is vital in growing and moving forward. Yet students need to ask whether their return on […]
Is college worth a lifetime of debt? Student debt reaches critical tipping point at $1.2 trillion as annual price increases enter the moment of truth.
The cost of going to college has come into deep questioning. In our inflation addicted market, the answer to every question regarding affordability involves more debt. Can’t afford a home? How about taking on a massive mortgage with a small down payment. Can’t afford a car? How about a 0 percent 0 down loan. Having […]