Friday, February 13, 2009

See? I'm not the only one who's noticed.

*photo by primatebonz' Flickr page

See this article regarding the impracticalities of financing a college education. Here's a quote regarding a couple sunk by the debt load from their student loans:

"The two disillusioned attorneys were victims of an unfolding education hoax on the middle class that's just as insidious, and nearly as sweeping, as the housing debacle. The ingredients are strikingly similar, too: Misguided easy-money policies that are encouraging the masses to go into debt; a self-serving establishment trading in half-truths that exaggerate the value of its product; plus a Wall Street money machine dabbling in outright fraud as it foists unaffordable debt on the most vulnerable marks."

The article doesn't address an even more tragic result: students who sink deep into debt yet never graduate. They're then faced with huge loans, without an increased earning capacity to repay them.

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