Aram Zucker-Scharff

Broke Grad Students Are The Next Debt Crisis And It’s Partly The Government’s Fault:

The latest study from the New American Foundation, released today, found that about 40% of the more than $1 trillion in outstanding student loans went to finance graduate and professional degrees. …

It’s really mostly the government’s fault. 

In the last 8 years graduate student debt has ballooned 43% to almost $60,000. Obama administration curtails loan forgiveness programs and regulations on student loans.
But President Obama is friend to the millennial, right?!

Student Loans Entice Borrowers More for Cash Than a Degree:

Some Americans caught in the weak job market are lining up for federal student aid, not for education that boosts their employment prospects but for the chance to take out low-cost loans, sometimes with little intention of getting a degree. Ray Selent of Fort Lauderdale, Fla., who is taking courses for a degree in theater, says student loans allow him to cover any needs that arise.

Taking out more student loans to cover expenses and keep back the collectors on other student loans is pretty foolish. The fact that people are doing so because they’re too much of a credit risk to get a normal loan is both familiar and terrifying.