Student loans Set Record : Educational Failure of Economics

Goodness - is it just ignorance or just plain stupidity when it comes to economics? Is the average individual that wants a higher education this totally unprepared for the real world. If there was ever proof that are secondary educational system has failed the student totally, is the student loan nightmare.

Where are the parents in all this? Where is the government that has more then $1.1 TRILLION in student loan debt? Oh wait, the progressive democrats want the student debt as a club to beat them into voting like they want when they graduate,  finding  they are so far in debt that without help they cannot survive.

Worse, where is the outrage from the taxpayer who will have to pay, again, to cover the debt of the irresponsible democrats?

How will you vote this November?

More Higher-Income Students Taking Out Loans
Source: Richard Fry, "The Changing Profile of Student Borrowers," Pew Research Center, October 7, 2014.

October 17, 2014

2012 broke records for student borrowing, as more than two-thirds (69 percent) of college students had taken out loans to pay for their college educations. Not only was the rate of borrowing staggeringly high, but students had borrowed, on average, an amount more than twice as high as graduates borrowed just two decades ago.

According to a new report from the Pew Research Center, the increase in the borrowing rate is largely linked to students from higher income families:

• In 2012, half of college graduates from high-income families had taken out loans, twice as many as in 1992.
• Sixty-two percent of 2012 college graduates from upper-middle-income households had student loan debt in 2012. Two decades ago, that figure was just 34 percent.

Still, the report notes that students from low-income families are most likely to graduate with student loans.