A Commencement Address for the Most Indebted Class Ever
Congratulations, college graduates! As you enter the next phase of life, you and your parents should be proud of your achievements.
But, I’m sorry to say, they’ve come at a price: The system is trying to squeeze you harder than any previous generation.
Many baby boomers, perhaps including your parents, benefited from a time when higher education was seen as a shared social responsibility. Between 1945 and 1975, tens of millions of them graduated from college with little or no debt.