Letter to the Editor: Borrowing for College
"'Full Disclosure for Student Borrowers' (editorial, May 23) offers several good ideas to help students make informed decisions about borrowing for college," NASFAA President Justin Draeger writes in a New York Times letter to the editor. "But you make no mention of the primary solution to keep down student indebtedness: public investment in higher education. In 1980, students covered roughly 30 percent of their higher education expenses. Local, state and federal financing covered the rest. Today, students and parents are shouldering more than 50 percent of higher education expenses, primarily through loans. Increased college counseling, better consumer disclosures and school certification of all private education loans are concepts that financial aid administrators wholeheartedly embrace, along with stronger authority to prohibit overborrowing. But these tactics merely nibble at the edges of a much larger financing problem."
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