The Atlantic – Terrance F. Ross
“The ceremonial tossing of college-graduation caps into the air was once a symbol of liberation. Now, it often signifies a future tethered to massive student debt, which takes a borrower 14 years on average to repay. Most recent graduates struggle to escape its wrath; after all, student debt in the United States now amounts to $1.16 trillion, $31 billion more than it was last year…So, why did prospective college students, according to new estimates, turn down nearly $3 billion in free federal-aid money last year? The answer appears to be two-fold: the red tape of the financial-aid process and the widespread financial illiteracy plaguing the nation.”(more)