If you are a regular of our blog, you know just how concerned we are about the impact of student loans on the upcoming generation.
Just the other day we spoke with a dentist, fresh out of school, $300K in debt, unable to get financing for her own practice, and unable to find a chair in an existing practice. What happens to the next generations where the student loans are so much higher?
Sen Warren has introduced new legislation that would, if passed, allow students to refinance at lower rates. Is that truly enough? Do we need a fundamental review of how higher education is paid for?
Student loan debt has surpassed credit card debt, and stands presently at 1.2 TRILLION dollars.
Seventy One Per Cent of college seniors are in debt to the tune of an average $29,400.
We don’t know if refinancing is THE answer, or what “THE” answer truly is. We do know that this monstrous debt must be paid, and is not relieved even in bankruptcy. This Trillion Dollar bubble will lead to a serious impact on our economy, and our ability to be globally competitive.
Share your thoughts…
