Student Loan Debt Crisis Explodes Like the Death Star! Will Your Wallet Survive?

The Force Awakens...The Debt!

Hmm troubled waters these are. The U.S. Department of Education restart loan collections it will. Defaulted loans they target. While younglings new debts acquire. Like flies to a Rancor pit into the student loan system they go. A million new graduates more debt they take. Master Kantrowitz speaks he does. 'Much to learn they still have,' I sense.

A Tuition Menace

Graduating they are. $40,000 in debt each one faces. A NerdWallet analysis this reveals. Like a Sarlacc pit debt swallows them whole. Up from $37,000 it is. 'Worth it is college still?' they ask. For most yes. For all? A question this is. Financial aid maximize they must. Generous packages some colleges offer. A glimmer of hope perhaps. But the problem of affordability lingers it does.

Forgiveness? A Jedi Mind Trick?

Historic forgiveness efforts past President Biden attempted. Like trying to stop a sandstorm with a toothpick it was. Debt increases still. College affordability a true fix we need. Enrollment constant it is. The pile grows larger and larger. Like Jabba the Hutt the debt sits there immovable.

45% to College: A New Hope or Phantom Menace?

Four year colleges 45% of graduates seek. Loans they take more than a third. Tuition costs rising they are. Since 1983 5.6% annually an increase it is. Inflation outpaced it has. Families more of the burden they carry. 48% they pay up from 38% a decade ago. Money they lack most do. Borrowing the only way they see.

Secretary's Lament: Empty Promises Dark Side Colleges

$1.6 trillion student debt reaches. Secretary McMahon speaks she does. Empty promises some institutions make. Loan dollars they pocket. Nonprofits they call themselves yet profit greatly they do. Tuition hikes endless they are. Endowments multi billion dollar they become. Students graduate deep in the red they are. Greed I sense. Strong with the Dark Side these colleges are.

State Funding: A Galaxy Far Far Away

State funding cuts deep they are. Tuition increases they cause. Costs shift to students they go. Tuition half of revenue now it is. State governments less they provide. Three decades ago different it was. Tuition a quarter state governments most. A comprehensive solution lacking it is. An attack on higher education it seems. 'There is another,' perhaps a solution we may find.