Thanks for sharing that. It's not just the parents fault, it's actually a mixed fault of the students, their high school education (rather a lack of financial education), their parents, but mostly the institution and the lenders. Once lenders lobbied for the removal of bankruptcy protections, they could lend any amount of money at no risk. Since lenders were willing to loan more money, schools jacked up their tuition. People are still fed the lies today that college is the path to the American Dream, to success. If institutions didn't require $100,000 for tuition and if lenders wouldn't loan that amount to an 18 year old, then it wouldn't be an issue. Students may still leave college with student loan debt if tuition prices were reasonable, but it'd be much more manageable. Also, I'm wondering how much of that particular persons student loan debt is from interest alone.
