The Sacremento Bee: “This April, while hashing out the bill that reconciled differences between the House and Senate versions of health reform, lawmakers tossed in another overhaul as well. They completely remade the student loan industry. As a result, college students will pay more for their school loans.”
CNN Money: “Getting a degree used to be a stepping stone to limitless career opportunities. Now it’s more of a hiatus from living under your parents’ roof. Stubbornly high unemployment — nearly 15% for those ages 20-24 — has made finding a job nearly impossible. And without a job, there’s nowhere for these young adults to go but back to their old bedrooms, curfews and chore charts. Meet the boomerangers.”
Above the Law: “Say this for the University of Miami Law School: it tried to warn its own students that there were too many of them. . . . Dean Patricia White even told prospective students: ‘I urge you to think hard about your plans and to consider deferring enrollment.’ But still they came. And now, there are no jobs for them. . . . Now, Miami is trying to get employers to hire these students for free.”
Breitbart: “States appropriated almost $6.2 billion for four-year colleges and universities between 2003 and 2008 to help pay for the education of students who did not return for year two, a report released Monday says. In addition, the federal government spent $1.5 billion and states spent $1.4 billion on grants for students who didn’t start their sophomore years, according to “Finishing the First Lap: The Cost of First-Year Student Attrition in America’s Four-Year Colleges and Universities.”
The Chronicle of Higher Education: “More than half of students attending the nation’s largest for-profit colleges withdraw within two years, a new report by Senate Democrats reveals. . . . 57 percent of students who entered for-profit colleges during the 2008-9 academic year have withdrawn, many after 20 weeks or less of instruction. Over the past three years, almost two million students have left for-profit colleges without a credential, many with debt that could take years to repay”