Published by the Center for the Study of The Great Ideas (founded in 1990 by Mortimer J. Adler and Max Weismann)
In association with the The Adler-Aquinas Institute and Aquinas School of Leadership
Member of the Alliance for Liberal Learning

Tuesday, April 26, 2016

How Many Pinocchios for Common Beliefs about Student Debt?

Christopher B. Nelson, president of St. John’s College, Annapolis, at SignPosts for Liberal Education,
"But what about the $1 trillion student debt crisis we keep hearing about? The fact is that the vast majority of that debt is held by two types of borrowers: (1) graduate students, who presumably take on more debt in return for higher pay eventually; and (2) students who attended for-profit colleges, which are the principal drivers of the growth in student debt.

"Graduates of private, independent colleges, on the other hand, end up averaging somewhere between $25,000 and $31,000 in student debt for their entire four-year degree. While this is a sizeable sum of money, if financed prudently over one’s working lifetime, it is a very manageable amount of debt in return for the benefits it confer."

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