Student Loans - We need action now

The North Carolina Institute of Minority Economic Development had a great conference last week. Bill Cosby was there! And, it touched on student loans. I wrote two papers.

The stunning interchange that really made me think was in the last session. La Tasha Best-Gaddy said that she had been interviewing students for the past year. She would go to campus, put up signs offering debt counseling, and meet with students at a nearby Starbucks. At one campus, she said that she spoke with 26 students. Together, they had more than $1 million in debt! These are people just starting out!


I guess part of my reaction

I guess part of my reaction was that in spite of the fact that I had written two papers, it was the passing comments of people like LaTasha and a few administrators on campus that seemed to make the case most strongly. LaTasha said that she feels that many students need to cut their parents off from accessing their student loans for their own credit needs. An administrator echoed that, saying that efforts at counseling by loan officers were often undercut by parents insisting that their children take out the maximum potential loan.

It was a good conference. There was plenty of "straight talk!"

Adam Rust
Read some more, at my blog: Manufactured Housing Reader.

Adam Rust
Read some more, at my blog: Bank Talk.

I'm sure that happens in some cases

but the cost of a good college education is out of reach of a middle class family without loans. My son's tuition and board this year is more than my salary. If he did not take out loans, he would not be able to go. Bottom line.