Student loan debt runs to about $30,000 per graduate of the class of 2013, as Phil Izzo writes in the Wall Street Journal. And the total amount of student loans outstanding runs to almost a trillion dollars: more than either credit card balances or automobile loans. More than any form of consumer debt other than home mortgages.
The struggle to pay off this debt has led many recent graduates to put off getting married, buying homes, and starting families.
Furthermore, the trends are not encouraging as “Even adjusting for inflation, the average debt burden was half that size 20 years ago.”
And graduates in:
... the class of 2013 ... aren’t likely to hold the title of “Most Indebted Ever” for long. Amid continued growth in both tuition costs and student lending, they are likely to pass the mantle to the class of 2014 next May just as they assumed it from the class of 2012.
Tough on the kids, for sure. But presidents at some of the universities where they rang up that debt are doing just fine.
In a season when we all become bracketologists, here is an interesting variation that uses the form to conduct a playoff in which the school that costs more to attend wins and moves on to the next round against another institution of absurdly high priced learning. Another elimination and the price, again, goes up. Parents of college-aged children will quickly get it.
David Plouffe, a former advisor to President Barack Obama, tells a student newspaper at the University of Chicago that one need not be college educated to do politics. Plouffe states, though, that he thinks "everybody should have a college degree."
The students ask, "Do you think it’s necessary to have a college degree to get into politics?"
Tonight, the 15th BCS National Championship Game will cap yet another extraordinary college football season. College football is the only major American sport that emphasizes the regular season over the postseason, like baseball did in its glory days (when the two league champions went directly to the World Series). Correspondingly, it’s the only sport that sufficiently rewards teams for season-long excellence, rather than for a brief flourish of postseason glory (on the heels of regular-season mediocrity), of the kind now routinely celebrated in Major League Baseball and the NFL.
Tufts University in Medford, Massachusetts has banned a Christian group from campus because the group requires student leaders to adhere to "basic biblical truths of Christianity." The decision to ban the group, called the Tufts Christian Fellowship, was made by officials from the university's student government, specifically the Tufts Community Union Judiciary.
Adrienne Pine, an assistant professor of anthropology at American University (AU) in Washington, decided to bring her cold-stricken baby daughter, too sick for the daycare center, along with her to teach her opening class for the fall semester in "Sex, Gender, and Culture."
In response to a statement about the high unemployment rate for those with college degrees, Robert Gibbs, a surrogate for President Obama's reelection campaign, admitted that things are particularly bad for those without college degrees:
“But boy that unemployment rate when you get out of college is tough," MSNBC host Chuck Todd said. "It's higher than the national average."
Like many colleges and universities, Princeton professes its devotion to “institutional equity and diversity.” The university’s website claims that the school “actively seek[s] students, faculty, and staff of exceptional ability and promise who . . .
The unemployment numbers have been released and they are dismal and, typically, unexpectedly so. Fewer than 70,000 new jobs and the least scary measure of unemployment rising from 8.1 percent to 8.2 percent. According to NPR:
Late last night, in a shameful example of editorial cowardice, the Chronicle of Higher Education fired Naomi Schaefer Riley. Naomi is a good friend of mine, a sometimes contributor to THE WEEKLY STANDARD, and a fine writer. And the story of what happened to her is highly instructive.