◼ “Student loans are a total pocketbook issue for our generation,” said Jennifer Wang, the policy director of Young Invincibles, a group formed during the 2009 Obamacare debate to represent millennials. - Washington Examiner
Politicians haven’t ignored that growing student debt is a top concern for younger voters. Democrats, including President Obama and Sen. Elizabeth Warren of Massachusetts, have made reducing student loan payments one of their top pitches to young voters.
Like any other sum so big, however, $1.1 trillion is difficult to put into perspective.
It has led to alarmist headlines warning that student debt is a bubble that will start a new recession soon, when it bursts. Or that it will slow long-term growth by preventing young people from financing other major life goals, such as buying homes or starting families.
But the real problem with student loans, according to students, experts and loan counselors, is much narrower than the sensationalist reports usually indicate.
The real crisis is one of indebted dropouts. Millions take out loans to pay for a degree that they never obtain and face the burden of repayment without the earning power of a diploma....
