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November 29, 2005
College Debt
Federal policy isn't keeping pace with reality. Soaring education costs and inflation have not been met with aid increases. Caps on federal student loans have forced students to seek private loans, which were up from $1.1 billion in 1995-96 to $10.6 billion in 2003-04.These loans have much higher, often predatory, interest rates.
"Burying College Grads in Debt," by Elana Berkowitz and John Burton, Campus Progress, on AlterNet, November 28, 2005.
via TalkLeft
Isn't the main reason college tuition is soaring is because there is too much cheap 3rd-party-payor (i.e., federal) money sloshing around the student aid world? So if we followed Berkowitz and Burton's prescription, the consumers of college (students and their parents) woud be even more removed from the costs, and we'd increase the amount of money in the system, leading to even more inflation of college tuition? Sounds like health insurance....
Posted at November 29, 2005 06:22 AM | Categories: Economics
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