“I ruined my life”

Lives on Hold“Step by step, one law after another has been enacted by Congress to make student debt the worst kind of debt for Americans”

One of the things I informally track is overall attitudes toward borrowing, student loans, and higher education debt. I think this is important, because if there is a ‘bubble’ and the landscape of higher education (and paying for that education) dramatically changes, one of the major reasons will be because of a very public backlash.

We may not have a full fire, but there is a lot of smoke around this subject. The latest example:

http://www.consumerreports.org/student-loan-debt-crisis/lives-on-hold/

That article puts some of the blame on the private collection agencies, but I don’t think that is a real problem or a real solution.

Larry Burkett used to say ‘Debt isn’t a problem, its a symptom of a problem’. Collection agencies aren’t the problem, but a symptom of a larger institutional problem.

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