Thursday, September 22, 2011

Is the Near-Trillion-Dollar Student Loan Bubble About to Pop?

Is the Near-Trillion-Dollar Student Loan Bubble About to Pop?: "Student loans have been going up since the recession began--and now defaults are up too. Something has to be done, but what?




If you want to take a relation of violent extortion, sheer power, and turn it into something moral, and most of all, make it seem like the victims are to blame, you turn it into a relation of debt.” -- Economic anthropologist David Graeber, author of Debt: The First 5,000 Years




Tarah Toney worked two full-time jobs to put herself through college, at McMurry University in Abilene, Texas, and still has $75,000 in debt. She graduated in six years with a Bachelor's in English and wanted to go on to teach high school...."