For three years, I've been arguing that student loan debt is severely suppressing economic growth. Whether you agree with student loan forgiveness or not, it can no longer be denied that overwhelming debt crushes demand and, without demand, this recession will only drag on and on indefinitely. So, if not student loan debt forgiveness, what's your solution to this problem that not only isn't going away, but is getting worse by the minute?
I've already been made aware of the CFPB's glitches with respect to exercising its jurisidiction in this realm, however; if you have a specific complaint about your private student loans, you finally have someone to report it to.
Seeking potential interview subjects in the Southern Arizona area ONLY, regarding the issue of student debt after death. If you're a cosigner on a student loan for someone who has since passed away, a reporter wants to speak with you.
Hmmmm, I wonder why this is happening? Could it possibly be due to the fact that the very people we rely upon to buy the majority of homes in the U.S. are already graduating from schools with mortgage-sized debts that they can neither live in, nor use as intended in today's economy. The housing market cannot improve unless and until we solve this underlying problem first.
Yet another justification to address the looming student debt crisis before it's too late. Student loan debt will be the death of the American economy for everyone if it's not addressed because it seeps into so many other sectors of the economy: retirement, housing, small businesses, families, etc. The problem is growing exponentially worse by the day and nobody can claim they haven't been warned!
It's too soon to tell, but this is a very good sign that colleges and universities are waking up to the fact that, due to unregulated, out-of-control, skyrocketing tuition, they've essentially priced the middle class out of obtaining higher educations. More proof that true power still lies with the people and that if we stick together and make our voices heard loudly and often, change will follow. Keep the pressure mounting!
Click the link below to listen to this morning's edition of "The Sound of Ideas" on NPR, where they held a comprehensive discussion about "The Price of College." Fast forward to 21:05 to listen to Aaron Calafato's terrific comments, including a plug of this movement. Then, click here to learn more about Aaron's upcoming show, "For Profit." Great job, Aaron!