article about student debt in the US

[woolymonkey]

A colleague posted this and I want to be able to find it again.  I don't claim to be anything other than confused and worried about the way education and education funding is going in England and I have no idea whether this gives an accurate picture of the US situation.  But as a parent and a  uni tutor, I'm nervously trying to put it all together and figure out what the hell is going to come next...

Comments welcome but response may take the form of a monkey silently wringing her paws.

Comments

[dorispossum.livejournal.com]

Debt slavery indeed. Made me think of the Annuity Bill of 1777 (referred to in School for Scandal, one of the texts I’m currently teaching), which banned lending to minors, as a protection to the unscrupulous practices of lenders getting young men to mortgage their futures for illusory benefits. Plus ca change...

If you have time (which you probably don’t!), you could look at response I posted to one of Kari’s blogs (on women in HE?), which included stats that very much confirm everything your article says about the scandal of selling degree courses to children and parents as a financial investment. Especially to those considering humanities degrees (little extra earning potential), especially if you have boys (women get better earnings uplift from having a degree, so better to invest in daughters). The financial argument for going to uni is a tragic con trick for most – a way for employers to get skilled labour without investing their own cash in training them.

But three years away from home, focused on learning and growing (rather than wage slavery) is one of the best PERSONAL investments anyone could make in their lives – and I includes the ‘average ability’ students, not just the ‘gifted’. But how many young people contemplating uni truly value the experience, rather than the degree and the siren song of a ‘good job’?

I was lucky to enjoy four years of that experience (BA + masters), and for the rest of my days I’ll be grateful to every taxpayer out there who worked to give me that opportunity. At the time, admittedly, I was one of a tiny, privileged minority of the population, not the approx 50% hoping to go to uni today. But I’d vote in a trice for the chance to pay it on, even with the bigger numbers.