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Why Student Loan Debt Harms Low-Income Students the Most


#1

Why Student Loan Debt Harms Low-Income Students the Most

Maggie Thompson

Four years ago, student loan debt in America topped $1 trillion. Today, that number has swelled even further, with some 43 million Americans feeling the enduring gravity of $1.3 trillion in student loan debt.


#2

Student debt is listed as an asset of the US Government. In fact it nearly half of US Government financial assets.

http://www.bloombergview.com/articles/2015-04-17/washington-may-not-want-to-get-out-of-student-debt

As this article points out, given it deemed an asset there little incentive for that same Government to address the issue. Student debt was 52 billion in US Government revenues.

Back when I was going here in Canada, the cost of rent and my own higher level education was so low I could make enough in a summer job to pay for it. My co-worker indicates it now costs him some 40k a year to send his own daughter through university.