Undeniably, the student loan debt debate will continue for at least another generation.
“To get a good job, you need a good education” was the government public service ad mantra of my generation.
Instead of keeping higher education affordable to all, costs skyrocketed over the ensuing four decades.
In the 1950s, my father attended Southern Oregon College (the named changed three times in the years following) for $60 per term. Not $60 per credit hour, per term. In the late 1970s, I paid $800 per semester at a private college. Today, tuition and fees at Southern Oregon University cost $3,000 per quarter for in-state students. That doesn’t take into account the costs of eating and sleeping on campus, or commuting to campus.
Students with a clear view of what they plan to do with their post-academic lives see loans as a means to an end, part of the costs of education. But to those who think of college simply as a post-adolescent party experience, student loans are a weighty yoke.
When there is no way to pay off the loans, default follows just as sunrise follows darkness.
Much has been written and much will be written about student loan defaults. American Banker takes a look at one aspect.
Air travel will change. For better? For worse? Here’s a look at what airline executives expect.