Tuesday, July 24, 2012

THE NEXT DEBT CRISIS: Educational Debt « The Belly of the Beast

The bill for the epochal shift to students of the cost of post-high school graduation is not just coming due - it is mounting.  Even land-grant colleges - a great democratic initiative - have gotten pricey.  And the farther down the chain you go the poorer the prospects for those who incur educational debt.  Now even the top of the chain- law school - is showing that the price of anti-tax sentiment is too high to be born by most law graduates. - GWC
THE NEXT DEBT CRISIS « The Belly of the Beast
by Steven J. Harper
"One of the next big bubbles is educational debt. A recent article in The New York Times notes that it exceeds one trillion dollars — more than total consumer credit card debt. Meanwhile, according to The Wall Street Journal, the Federal Reserve Bank of New York reports that for those aged 40 to 49, the percentage of educational debt on which no payment has been made for at least 90 days has risen to almost 12 percent. Sadly, history will view these as the good old days."

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