Excerpt
JUDY WOODRUFF (Newshour): There was fresh evidence today of just how expensive college has become and how fast student debt is piling up. It came in the latest look at the bill that comes due once diplomas are handed out.
The numbers are more daunting than ever for newly minted college graduates. Data released today shows two-thirds of the class of 2011 had loan debt that averaged $26,600. That was up 5 percent from the previous year. The Institute for College Access and Success, based in California, surveyed more than 1,000 public and private nonprofit four-year colleges.
It also cited studies showing that more than one-third of recent graduates have jobs that do not require a college degree at all.
COMMENT: While the situation is bad the context is 'we' have become spoiled in our expectations from the 'good 'ol days.' Not only in expecting good jobs right out of college, but in the context of our economy in whole.
IMHO what we are seeing today is more in line with reality. The days of boom and quick satisfaction are gone, and it is NOT the fault of government. We have been on a cocaine-high since the end of WWII and we are now paying for our binge.
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