Many students graduate from college and professional schools, including those of social work, nursing, medicine, teaching and law, with crushing debt burdens.
Sentiment: NEGATIVE
College gives people learning and also takes away future opportunities by loading the next generation down with debt.
About two-thirds of bachelor's degree holders borrow to go to school, and on average they're graduating with more than $26,000 in debt.
College dropouts with significant debt struggle with repayment over the course of their lives and do not receive the benefits afforded to their peers who have debt but obtain higher-paying jobs as a result of college completion.
The cost of college education today is so high that many young people are giving up their dream of going to college, while many others are graduating deeply in debt.
Students graduating with high debt encounter difficulties in qualifying for home and automobile loans.
There's more student debt than credit card debt! Everywhere I go, I run into young people trying to build careers while they keep shelling out money on their education loans. If the economy is looking for a new generation of home-buyers, I can't imagine they'll get it from these folks.
Student loan debt is the reason I don't advise students who want to become entrepreneurs to apply to elite, expensive colleges. They can be as successful if they go to a relatively inexpensive public college.
There is lots of evidence that it is this fear of going into debt that most puts people from poorer backgrounds off going to university.
The middle and working classes are paying the debt that the financial markets created.
High bankruptcy rates, increased credit card debt, and identity theft make it imperative that all of us take an active role in providing financial and economic education during all stages of one's life.
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