I’ve been meeting with more and more recent college grads who are unemployed or underemployed. They are unable to repay their student loan debts. It’s unfortunate that you can get yourself out of just about every other kind of debt except student loans. So, maybe we should add student loans after “Death and taxes” as a certainty in life.
This month, the Senate heard testimony on for-profit colleges and its abusive lending practices. I would not hold my breath for the Senate to take any meaningful action on the predatory lending practices by lending institutions, but at least it’s one small step in the right direction.