An “On the Issues” Post from the Campaign for the Future of Higher Education [http://futureofhighered.org]
The increasing awareness of—and outrage about–the size of the debt crushing college graduates is, we must hope, a sign that meaningful action to address it may be possible.
The numbers alone are staggering. According to recent reports, the average student debt for graduates with bachelor’s degrees is now $29,400—roughly 80% of a young person’s average income in this country. (See more at http://www.edcentral.org/student-debt-review/.)
The implications of these numbers are also frightening. As we are increasingly aware, student debt is fueling the widening wealth gap in the United States (http://save2limitdebt.com/wp-content/uploads/2013/11/Student-Loans-Widening-Wealth-Gap_Fullreport.pdf) and even threatening the health of our overall economy (http://www.kansas.com/2013/08/10/2935730/crippling-student-debt-affects.html).
Less understood is the parallel economic precariousness of this generation of college professors.
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