Annals of Student College Debt 2019

Indiana University graduated over 8000 undergrads and over 2000 graduate students yesterday, all in Memorial Stadium, an outdoor venue with audience in transparent plastic slickers under sporadically rainy skies. Today this midwest academic town will start to clear out, leaving relatively clog-free roads for the next three months, until the broohaha starts all over again.

Our dear podmate Andreas received his Ph.D. in Music (specializing in Piano). We now call him “Doc.” How did I get this photo? There was Andreas, sauntering down the street towards home in rented ($120) regalia. Housemate Dan noticed. “Hey look!”

We called him over. Voila!

P.S. Pink signifies the Music School.

 

How many IU seniors and advanced degree holders will be graduating with student loan debt?

Check this out.

Excerpt:

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Nationwide, student loan debt now totals $1.65 trillion, second only to home mortgage loans, and effectively blocking a large percentage of college graduates from (ever?) buying homes of their own.

Student loan statistics in 2019: A $1.5 trillion dollar crisis

The Trump administration is well aware of this situation.

Trump Administration to Review Fed’s $1.45 Trillion Student Loan Portfolio

P.S. I know that lots of former students saddled with debt that are hoping for a debt jubilee. Sorry, folks. The phrase “loan jubilee” is nowhere mentioned in the above post, though some do think it’s coming. However, check out the last line, enough to send shivers up corporatized university spines:

” . . . the White house has suggested developing a system to put colleges on the hook to help pay off their graduates’ outstanding debt.”

BTW: It’s not just millennials who shoulder college debt. Seniors, too, who expect to carry it to their graves.

 

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