The Project On Student Debt estimates that the average college senior in 2009 graduated with $24,000 in outstanding loans. Last August, student loans surpassed credit cards as the nation’s single largest source of debt, edging ever closer to $1 trillion. Yet for all the moralizing about American consumer debt by both parties, no one dares call higher education a bad investment. The nearly axiomatic good of a university degree in American society has allowed a higher education bubble to expand to the point of bursting.
Posted in Consumer Credit, Education, Studies
Tagged college, education, FFELP, Malcolm Harris, Sallie Mae, SLABS, student debt, student loan, Student Loan Asset Backed Security, university