Writing for the New York Times (June 24, 2014), in a column titled “The Reality of Student Debt Is Different than the Cliches,” David Leonhardt reviews a recent study released by the Brookings Institute.
These are the main assertions:
(1) Student debt, on average, has actually not increased significantly.
(2) Because the earnings of college graduates have increased, student debt is not having an economic ill-effect on those who hold it or on the economy as a whole.
(3) The real problem is that many who take on student debt are not earning the degrees that will facilitate the repayment of the debt.
(4) So the solution to the “real” student-debt issue is greater accountability for colleges and universities.
I don’t think that Leonhardt is terribly distorting the findings of the Brookings researchers. But, for anyone who has been reading reports on this issue, each of these assertions should seem…
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