May 13, 2012

HIGHER EDUCATION BUBBLE DEBT-SERFDOM UPDATE: Student Loans: A Generation Hobbled by the Soaring Cost of College.

Kelsey Griffith graduates on Sunday from Ohio Northern University. To start paying off her $120,000 in student debt, she is already working two restaurant jobs and will soon give up her apartment here to live with her parents. Her mother, who co-signed on the loans, is taking out a life insurance policy on her daughter. “If anything ever happened, God forbid, that is my debt also,” said Ms. Griffith’s mother, Marlene Griffith.

As I’ve said before, any other industry that did this to its customers would be regarded as predatory in the extreme. And, in a related note, my The Higher Education Bubble, soon to be published by Encounter Broadsides, is now available for pre-order. Just sayin’ . . .

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