From Real Clear Education comes this little gem on how accreditation is one of those things that are jacking up the cost of education, and is rife with corruption.
The real kicker for me was that the total owed on student loans was $1.4 trillion – and that’s double what was owed in 2009, just eight years ago.
Exactly why are we, as a nation, willing to shackle our students to piles of debt that will limit their disposable income for decades.
Yes, the students signed up for the loans, but it is we – through our government- that made those loans non-dischargeable in bankruptcy.
“We had to do that to make college more accessible! So that people wouldn’t be mired in poverty when they could make so much more.” Guess what, you’re miring them in a more pernicious poverty. That much debt limits choices. It also increases risks for long-term financial health.
The old saying is the road to hell is paved with good intentions. A lot of those bricks look are stamped with “Your student loan is approved!”