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THE SUBPRIME EDUCATION CRISIS
Oh dear. We appear to have what might be termed sub-prime student loans on which there are rising defaults. In fact it is possibly worse than sub-prime mortgages, because unlike mortgages, delinquent...
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Welcome to the Creditocracy, Where Your Debt Piles Up Forever
Last month, the Federal Reserve confirmed the ominous news. The decline in US household debt from sky-high 2008 levels has halted, and the figures are on the rise again – up by $241bn (or 2.1%) in the...
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Worst. Anniversary. Ever. #TrillionDollarDebt
This week marks the two-year anniversary of student loan debt topping $1 trillion nationally — and another year of missed opportunities to address this growing crisis. That $1 trillion represents the...
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Borrowing Against the Future
America’s higher education system is gaining a reputation for high costs and large inequities. In 2012, the U.S. spent $491 billion on higher education1 and twice2 as much per student than comparable...
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New Cooperative Refinances Student Debt with Community Funds
Over the past two decades, the amount of money a college student must borrow to pay for their education has doubled. The graduates of 2014 now sit at the top of the class in student debt. Tuition fees...
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Unpacking the Myths of Financial Aid
This is part of an ongoing series of printable pamphlets designed to explain how money flows through public research universities in general and the University of Michigan in particular. By the...
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