The Reality of Student Debt Is Different From the Clichés –

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An article well worth your time to read.

“The misperceptions matter because they distract us from the real trouble with our higher education system. It’s not the graduates of expensive colleges who are struggling to get started on a career. Such graduates make for good stories and they tend to involve the peer group of journalists, but history suggests that most of them will do just fine.

The vastly bigger problem is the hundreds of thousands of people who emerge from college with a modest amount of debt yet no degree. For them, college is akin to a house that they had to make the down payment on but can’t live in. In a cost-benefit calculation, they get only the cost. And they are far, far more numerous than bachelor’s degree holders with huge debt burdens.

The solutions to the dropout crisis have some overlap with the solutions to the so-called student-debt crisis: more accountability for colleges. For the most part, though, the two issues are different — and require different answers. Lifting the nation’s college graduation rate depends on better, more cost-effective education, rather than merely cheaper education.”

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