The ramifications of defaulting and remaining in debt deliberately are usually real and lasting.
Source: Taking On Student Debt, and Refusing to Pay – NYTimes.com
I commented.
You write that “…the ramifications of defaulting and remaining in debt deliberately are usually real and lasting…” True, but there is something much worse: the ramifications of colleges deliberately defaulting on their side of the bargain – delivering a real education. That too, is “…usually real and lasting…”
The problem is not student financial debt. It’s what that money didn’t go for, an education.
What has been happening is unbelievable bad. And it’s deliberate. Here is David Riesman on what he already saw in 1980.
…”the “wants” of students to which competing institutions, departments, and individual faculty members cater are quite different from the “needs” of students…”
and
“…advantage can..be taken of [students] by unscrupulous instructors and institutions…the student estate often does not grasp its own interests, and those who speak in its name are not always its friends…”
It has gotten much worse since then.
Because I believe that people need to see for themselves how bad it has gotten, I have a blog, inside-higher-ed, I tell how outrageously worse it has gotten since Riesman/s time. Now, we have uneducated graduates, fooled into thinking they can pay off those loans.
(College grads do make more than HS grads, but mainly because colleges that teach teacher don’t deliver qualified teachers. Examples that demonstrate how that works are also on my blog.)
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