Quote:
Originally Posted by Adder
This, coupled with financialization. We exploit kids by convincing them it is okay to borrow against their future earning in ever growing amounts, enriching administration on the back of almost literal children.
When the public paid for public school, that wasn't possible.
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The situation is unforgivable. I recall sitting next to a young lawyer about a decade ago, waiting for an argument, and hearing her explain that she was roughly $200k in debt between undergrad and law school.
Today, that number would probably be $250-270k.
This person will be a debt serf for the majority of her most productive years. Kids? A home? These things will be exceedingly painful to even attempt. And for what? A couple bad decisions she made at an age where everyone makes bad decisions.
Higher education's relationship with our student borrowing systems can only be described in the terms most apt, most deserved: Parasitic, opportunistic, and in most instances, fraud in the inducement. The administrations that feed off this trough are worse than subprime and payday lenders, the clutches of whom at least the debtors can escape through bankruptcy if necessary.
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