There’s been a lot of talk the last few years about the increased cost of a college degree, and how government aid hasn’t kept pace with need. Lots of politicians and activists have spoken and written about ways to address the crushing debt that many students (myself among them) have left college under. What rarely gets mentioned is how this system came into being, and how it’s worse than many other kinds of crushing debt. Coming out of college with 5 figures worth of credit card debt is bad for most students, but in a worst case scenario, that debt can be dealt with via bankruptcy. Not so with student loans. Want to know why? Go see the Consumerist.
Update: The original graphic referenced by the Consumerist originated with CollegeScholarships.org.