It’s calculated that somewhere north of 45 million Americans have run up $1.73 trillion worth of college debt. The numbers may surprise a lot or a little, which is really not the point.
The main thing is that debt now measured in the trillions is in a sense a logical midpoint to the federal government’s unfortunate involvement in the financing of college education. “No one spends the money of others very carefully” is a truth as old as humanity (or money) is, and the trillions worth of federal student loan debt vivify this truth. We know this because the hangovers (literal and figurative) from time spent on campus continue to grow.Read More