EMPHASIS NOW NEEDS TO BE ON REDUCING COSTS TO STUDENTS.
The estimated student loan debt in the United States is $1.2 TRILLION. The debt for the average graduate is $29,000. That’s the average. It’s not unusual for a student getting an MD, for instance, to owe more than $150 thousand.
The Economist reports that now there are more than 7 million debtors in default.
Public universities have increased fees by more than 27 percent over five years ending in 2012.
Government funding for education fell 27 percent between 2007 n and 2012.
Higher education costs have risen 1.6 percent more than inflation for decades ending in 2013.