Forgive Us Our Student Debt

I recently heard about a collection agency in the Southern Tier of New York State, which has 225 collection representatives who are ALL attempting to collect $1.5 Million in bad COLLEGE LOANS; that one small center is attempting to recover over $300 Million in college loans----IN DEFAULT!!

With a bit of imagination, what are those numbers nationwide?

One of the unknown statistics about college students is that almost 40% DO NOT GRADUATE. That means that many, many college students incur huge amounts of college debt but NEVER receive degrees.

Although much has been made of the impact of the sub-prime mortgage loan debacle, very little has been written about the devastating impact of college debt. The answer IS NOT in Federal assistance. Pressure must be brought to bear on the colleges who have no downward pressure on inevitable 6% yearly price increases.

In this politically-charged election year one of the issues that MUST be addressed is the increasing impact on future generations----who feel they have no other choice but to borrow greater and greater sums to fund their education.