MOST OF US WHO GRADUATED AND WENT TO GRAD SCHOOL IN THE OLD DAYS PAID HARDLY ANYTHING AND THE COUNTRY DID VERY WELL INDEEDhttps://twitter.com/BenjySarlin/status/1064531614984736768 …
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If I hadn't gone to a UC school in the early 2000s, when it was still relatively affordable, and not finished debt-free (thanks to parental help), I would probably not be doing what I am doing today. It takes a certain degree of freedom to take career risks.
Most of my students today have high debt burdens upon leaving and it makes them extremely career anxious, very conservative in terms of risks, and apt to believe "the employer is always right," in my experience. They feel much more limited & constrained in their career goals.
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It is shocking even just how much has changed on the student debt front in the very recent past. It is a totally different educational landscape than 15 years ago. There is no "normal" here. And we also don't fully know what the long-term effects will be.pic.twitter.com/T8bAQdHtiY
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Thanks for bringing this up to date, Alex. I didn't realize that the problem was so recent.
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Here's an even more recent graph of specifically federal student loan debt.. I mean, this didn't even really exist prior to the late 1990s (I started college in 1999, as an aside). Even then it didn't start exponential growth until after 2009. This is uncharted territory.pic.twitter.com/mruQwF26Gr
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And that money is going to already-rich people in finance, rather than starting new careers, new homes, new ideas.
End of conversation
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