e-book Written Off?: The Student Loan Debt Crisis for Higher Educators

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Contents

  1. Before You Start School
  2. 16 Ways to Reduce & Avoid Overwhelming College Student Loan Debt
  3. Sanders proposes bill to write off all student loan debt
  4. 16 Ways to Reduce & Avoid Overwhelming College Student Loan Debt

Assistant Professor of Finance and financial planner Brandon Renfro points out another glaring problem — pretty much nobody is on the hook for the growing costs of higher education in a post-forgiveness and free college world. While schools are currently motivated by competitive forces to offer quality programs and admit students who can succeed, Renfro suggests this may be somewhat mitigated by broad-stroke debt forgiveness. According to Senior Financial Analyst Riley Adams, who also blogs at Young and the Invested , moving ahead with full loan forgiveness solely as a means for resolving the growing student loan debt crisis will lead to unintended consequences with perverse incentives for students and society.

By awarding blanket student loan forgiveness, students may have no incentive to head into desired majors or fields of study which would be more in line with the needs of our economy, he says. Not everyone needs to go to college from a societal perspective, says Riley. Many crucial roles also do not require a college education to begin with. While we do need bold action to help those who are struggling with student loan debt, total student loan forgiveness is not the solution and will only create a moral hazard problem for current borrowers and future students. Alternatives like reforming public service loan forgiveness, student loan borrowing caps, addressing "return on investment" of educational costs, and helping borrowers who may have been victims of unscrupulous schools are likely better solutions to the situation.

I'm a personal finance expert that focuses on helping millennials get out of student loan debt and start investing for their future.

Before You Start School

I also help parents make smart cho. This is a BETA experience. You may opt-out by clicking here. I write about personal finance, college and student loan debt. Robert Farrington. I also help parents make smart cho Read More. I say that as someone who paid his way through undergraduate and graduate school and sweated blood every time I signed for a student loan. Youth is a time of great folly, yes, but you know exactly how much you're going to be paying back for exactly how long.

16 Ways to Reduce & Avoid Overwhelming College Student Loan Debt

She's got three times the average student debt, but we have no way of knowing where she went to college or whether there's a grad degree tucked into that. That's not great, but it's doable. Does she have roommates?


  • 16 Ways to Reduce & Avoid Overwhelming College Student Loan Debt.
  • Addressing the $ Trillion in Federal Student Loan Debt - Center for American Progress.
  • What You Need to Know About the Student Debt Crisis.

Why did she spend so much on college? Reading this story made me think of last year's Time cover story on teachers who supposedly had to work two or three extra jobs because they're "not paid for the work [they] do.

Sanders proposes bill to write off all student loan debt

The story doesn't provide any extenuating circumstances and, to be honest, I can't imagine any that would explain such as situation other than really dumb choices. Should we as a society be ready to forgive such mistakes via universal debt relief programs proposed by politicians such as Sens. Elizabeth Warren D—Mass.


  1. Are Millennials Responsible for Their Own Student Debt? – inskookamtio.gq.
  2. The Miracle Mineral Supplement of the 21st Century 3rd edtion (Breakthrough: The Miracle Mineral Supplement of the 21st Century).
  3. - The Washington Post.
  4. 16 Ways to Reduce & Avoid Overwhelming College Student Loan Debt.
  5. Higher education bubble in the United States - Wikipedia.
  6. Addressing the $1.5 Trillion in Federal Student Loan Debt!
  7. That seems like an insult and an outrage to everybody, parent and student alike, who scrimped and saved and went to schools they could afford. In an Associated Press story about Robert F. I was shocked.

    16 Ways to Reduce & Avoid Overwhelming College Student Loan Debt

    My heart dropped. We all cried. In the moment it was like a burden had been taken off. More to the point, who would do such a thing? I've written often about how younger Americans are indeed being screwed by my own generation, the baby boomers. Old-age entitlements are a brutal form of generational warfare that systematically rob from the relatively young and poor in order to give to the objectively old and rich.

    The financial crisis has further beggared the young , who have also grown up in a century with lower-than-average economic growth thank you, persistent deficit spending and massive national debt. Older people in America have a lot of explaining to do, and we need to reform all sorts of policies that slow economic growth and direct all sorts of unearned wealth to people who don't need it.

    Before You Start School

    But younger Americans—at least those who manage to royally screw up their finances by graduation day—also need to be held accountable. Mike Riggs From the December issue. Charles Oliver Billy Binion Matt Welch From the December issue. Ciaramella Property Rights.

    I mean, how is that equitable? Eric Boehm A state law allows counties to effectively steal homes over unpaid taxes and keep the excess revenue for their own budgets. Asset Forfeiture. The Eighth Amendment prohibition against excessive fines and fees applies to states as well, SCOTUS rules, opening a new way to challenge outlandish forfeitures. Eric Boehm 2. Death Penalty.