Summary: While the nation focuses on the concerns of old white people (which dominated the election), our young — our future — have different problems. Such as rising inequality of wealth & income. Starting different children at different rungs of the ladder generates positive feedback (like a pebble thrown down a rocky hillside, with the avalanche growing as it rolls down). Today we have the crack analysts of the Liscio Report look a rapidly worsening aspect of this national illness: rising student debt. Rising education costs block many from even getting on the opportunity ladder; large student loans will keep many on the lower rungs.
- “Student Debt: Onerous, and a Drag”
- About the Liscio Report
- More about student loans
- For More Information
(1) “Student Debt: Onerous, and a Drag”
From The Liscio Report, 20 May 2012.
Reposted here with their generous permission.
We have heard from a number of sources that researchers at the New York Federal Reserve Bank are worried that without some form of mortgage debt relief we may face a crisis in a couple of years that eclipses the one that took place in 2008. In line with such worries, the New York Fed has started collecting previously unavailable data on student debt, a form of indebtedness that’s a major burden on the young, and also more of a macroeconomic drag than many analysts realize. Here are some details on all that.
The rise in college tuition has been relentless, far outpacing the famous rise in the cost of health care (see graph, below). Since 1980, the overall CPI is up 194%. Its medical care component is up 436%, more than twice as much. But its college tuition component is up 829%, more than four times as much.