Student Loan Debt rises regardless of economic woes
As many of you know, tuition at America's colleges and universities continue to rise, in part due to declining subsidies from state governments. However, what you might not expect is for student loan debt to continue to rise regardless of what the economy is doing. That is the somewhat surprising conclusion expressed in a recent article published by the Center for American Progress - a self-proclaimed independent, nonpartisan educational institute.
Conventional wisdom would dictate that economically stressed families would pull back on all of their discretionary spending, including potentially pulling back on educational costs or, at a minimum, leaning toward more affordable educational options so as to not add to an already heavy debt burden. This is simply not the case, according to the article's author, Christian Weller, a senior fellow for the Center for American Progress and an associate professor of public policy and public affairs at the University of Massachusetts Boston.
See if you agree with Mr. Weller's assessment and then share your thoughts on why this may be happening.
http://www.americanprogress.org/issues/2012/05/student_debt.html
