In my family, going to University was never a question. My sisters and I were raised with the idea that higher education was our ticket out of poverty. Like our peers, we clung to the American dream of graduating and establishing careers that would allow us to fulfill our dreams of traveling, building a family,Continue reading “Learning Experience: Two Bachelors Degrees and Deep in Debt”
As we’ve reported here and here, the state of higher education in this country has reached a crisis. The cost of tuition has risen substantially faster than any other good or service over the past 40 years. There are many that are calling the student debt crisis the next financial bubble. Under the Starbucks plan,Continue reading “Starbucks’ Free College Gimmick Clouds the Real Problem”
This week the Department of Justice levied a $97 million fine against the student debt servicing giant Sallie Mae. The findings of the DOJ’s long investigation revealed a host of bad practices and illegal behaviors at the company, including overcharging on nearly all military service members’ loans, and mishandling borrowers’ payments to maximize late feesContinue reading “Sallie Mae Slap on the Wrist Doesn’t Go Far Enough”
A college degree was once an investment in the future, a path to a good job, a home, car, vacation and money set aside to retire some day. But that college education has for many, become a ball and chain limiting future growth. Unless we begin to address this debt issue we will continue toContinue reading “Student Debt Threatens the Future for Everyone”
This is the first in a three-part series by the Alliance for a Just Society, looking at the high cost of student debt for our country and for our future. Young college graduates are putting their futures on hold as they struggle under the burden of high student debt – and a weak economic recoveryContinue reading “Families and Our Future Sinking in a Sea of Student Debt”
More than 37 million Americans are saddled with student loans — nearly one in five households. We glorified higher education for an entire generation, enabled an unsustainable system, and then blamed graduates for their choices. While some sectors of the economy have begun to see a recovery, student loan borrowers are watching their hopes ofContinue reading “If higher education is an investment we claim to believe in — then why does it take 30 years to pay off?”
The interest rate on subsidized Stafford Loans is set to double. If Congress doesn’t sort out its differences, seven million Americans will see their student loan rates double, creating further drag on the economy.
Student loan interest rates have taken center stage in the latest partisan political debate. In response to the economic crisis, the federal government reduced the interest rate for Stafford Loans from 3.4 percent to 6.8 percent. But that was only temporary.