"For noncompleters, those who dropped out of college, or even people who graduated but then suffered unexpected medical or financial calamity, even a small amount of debt can be paralyzing. But for borrowers who can afford the monthly payments, education debt is just another part of the price of admission to the middle class — even if they never entirely pay it off," according to The Chronicle of Higher Education.
"'The new herpes,' is how The Daily Show host Trevor Noah famously described college debt last year: 'Almost everybody has it. It stays with you your whole life. And eventually, you’re gonna have to tell your fiancé about it.'
Like taking out a loan to buy a solid house or a dependable mode of transportation, not all debt is bad, of course.
Megan Coval, vice president for policy and federal relations at the National Association of Student Financial Aid Administrators, said student loans can be seen as an investment. The question that arises, she said, is how much debt is too much?
'It depends on family circumstance, and what you're studying, and what your salary is when you come out,' Coval said. 'All of those different layers are what makes it so complex.'"
NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.
Publication Date: 3/4/2020