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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 437.26+3.8%4:00 PM EST
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To: Glenn Petersen who wrote (77821)8/18/2011 10:59:30 AM
From: elmatador1 Recommendation  Read Replies (2) of 219540
 
"student loans are up sharply"? Students are now more than $1 trillion in debt to their college educations, yet schools are encouraging the cycle.

there's a huge industry out there, trying to beguile parents into clouding their offspring's future. Banks advise that borrowing is an excellent investment, since college graduates average lifetime earning $1 million more than their high school counterparts. (It's a projection based on a lot of rosy assumptions.) But the hard fact is that students are slated to repay all their loans soon after graduation, not exactly a high-income period. Not to mention veering away from jobs they may really want - like inner- city teaching or family practice medicine -- for others better suited to meet repayment schedules.

There are other siren songs out there. A school's financial aid adviser isn't always a freshman's best friend. While seldom openly stated, their job is to supply the college with as many paying freshmen as possible. Budgets even at schools like Brown and Duke will only balance if over half of their students foot the full bill. Few colleges offer actual cash assistance - at best, like car dealers, they dangle discounts - so they steer less affluent students to loans. So-called aid officers do this for one reason: the money you borrow goes into the college's coffers. Paying it later will be your problem.

The Debt Crisis at American Collegeshttp://www.theatlantic.com/business/archive/2011/08/the-debt-crisis-at-american-colleges/243777/
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