Posts Tagged ‘student’

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In order to afford purchases of the higher education commodity, students and their families are going further and further into debt—and having more and more difficulty paying off their student loans.

According to the New York Times,

The amount of defaulted loans — $76 billion — is greater than the yearly tuition bill for all students at public two- and four-year colleges and universities

Students and their families are going into debt to pay for all kinds of schools—public and private, large and small—but they’re having the most trouble paying off loans they take out to attend private, profit-making schools.

And the federal government has gotten into the business of collecting on student debtors who are in default.

Just like mortgages and the housing industry, student debt has become an important condition for sales of the commodity higher education.

What’s next—student debtors’ prison?

Default

Posted: 6 June 2012 in Uncategorized
Tags: , ,

 

Here’s the link to an interview with Aurora Meneghello and Serge Bakalian, the filmmakers of Default: The Student Loan Documentary.

EW: Does student loan debt have a different effect on people than other types of debt?

AM: What we learned by talking to many people is that student loan debt is so intertwined in sense of self. Essentially you borrow money to invest in yourself, to invest in the career of your dreams. We’re constantly fed this story that if we just follow what we want to do, the money will come – if we just believe in ourselves and work hard, we’ll make it. The reality is this is just an economic issue, but people’s sense of self-esteem just crumbles sometimes, and depression sets in, and this idea that I failed myself and I failed in my life. I think that is particular to student debt, and we wanted to show its effect.