Rachel Louise Ensign in the Wall Street Journal on March 24, 2013 shows how debt for college education is hitting many families. It’s not just that the kids have big student loans; mommy and daddy have their burden, too, often at a 7.9% interest rates. Here is her article “Parent Trap: What to Know before Taking a College Loan“ http://online.wsj.com/article/SB10001424127887324532004578362290396501134.html
For about a sixth of the parents of college students that may mean paying off a loan averaging almost $34,000, while their son or daughter is paying off almost $29,000 at graduation.) Blithe economists will say, “Don’t worry; it’s a great investment.” (Scroll down to see blog entries on “investment” language and its implications.)
No wonder then if parents are putting a lot of pressure on their kids to major in fields that (they think) will guarantee a job immediately after graduation.
All this say to me that if we are serious about keeping liberal education strong, we have to be serious about keeping college costs down. That’s not easy to do while maintaining quality, but we have to find ways to do9 iut.,