4 ms·
The Subprime Crisis of Student Debt
- hga 16y agoIt is beyond parody that you have to get to the 3rd from the last paragraph to find out that this professional victim got an "interdisciplinary degree in religious and women’s studies" (the latter grants her the status of a professional, I'd say). In the subprime mess the biggest problem was the debtors and the creditors, etc., i.e. the financing system, not the collateral although the latter of course got slagged due to the credit driven demand bubble. I don't think anyone getting degrees like her's can reasonably claim ignorance of there being a gross supply and demand mismatch for them.
- pwhelan 16y agoI agree. I find it disturbing that colleges do not at least mention to students that they should think about their earning power after school. I don't know how much sympathy I can have though for people who should just plain no better. No one cares more about your money than you do unless you are rich.