More college students are taking on thousands of dollars in additional debt thanks to tuition increases that are far outpacing inflation. Collegiate debt, now estimated at over $1 trillion, has accumulated so large that some lawmakers have called for congressional action to keep the student loan bubble in tact. The anemic Obama recovery has left too many young adults searching for work or stuck with subpar jobs, which raises the question as to why so many students are willing to enroll in exorbitantly expensive colleges despite graduating with minimal prospects. A report by NBC News may offer a clue: "24 percent of millennials said they expect their loans will ultimately be forgiven, according to a study released Wednesday by Junior Achievement and PwC US." NBC notes that the study "did not address why the students thought their loans would be forgiven," but, given modern culture's entitlement mentality, it's legitimate to presume some students expect a government handout. That kind of thinking is just as alarming and consequential as any debt concerns. Good policy starts with changing the way our youth view government's role. More...
One Quarter of College Students Expect Loan Forgiveness
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