Too many graduates will exchange their Cap and Gown after graduation for a ball and chain, debt that will follow them around like the proverbial weights hung on Jacob Marley in Charles Dickens “A Christmas Carole.” Today, about seven in 10 college graduates leave school with debt, averaging $30,000. But it is the other three who are the real winners of the “Game of Loans,” able to start their professional lives without the threat of tax and wage garnishment or a life sentence in their parents’ basements.
“The government makes tens of billions of dollars in profits off the backs of kids who are trying to get an education. I think it is obscene for the government to make profits off our kids.” – Senator Elizabeth Warren. Read the rest of this article here.