Graduate students represent just 14% of students in higher education but account for about 40% of the $1.19 trillion in student debt. Many seek government-loan forgiveness.
Source: Grad-School Loan Binge Fans Debt Worries – WSJ
Here is my comment
“..’What we’re doing is randomly subsidizing lots of people without careful thought,’ says Sandy Baum…”
Wrong. Just follow the money. First, to the colleges and then to the banks, etc…Then you see who we are subsidizing. Bill Gross put it this way,
“…Universities are run for the benefit of the adult establishment, both politically and financially, not students…” (quoted by permission from http://www.pimco.com/EN/Insights/Pages/School-Daze-School-Daze-Good-Old-Golden-Rule-Days.aspx )
The students are just a conduit and an excuse. It is easy to fool them into thinking they are getting an education, and, boy, do they and their parents get fooled. (Documented examples of how are on my blog www.inside-higher-ed.com .)
But, in this case, it’s worse than defrauding students and the public out of money. It’s defrauding our whole society. (More on this is also on my blog.)
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