The number of jobs available to students in the summers are drying up.
A good indicator of why debt is going up is to look at where college students
often live. Luxury dorms are the new thing and simply drive around a college
campus and look at the cars. While tuition is steep, many students are using
their student loans to pay for their lifestyle. Gone are the days
when college meant living in an apartment which is on the verge of being
condemned and driving a 20 year old car held together with duct tape and wire
hangers.I hope the BWM M3 and the luxury apartment are worth the six
figure student loans.
This is not a crisis inasmuch as everyone is walking into it. Yes college costs
more, but people can still work during college, and summer. Like they used to.
And save, save, save. Apply for those scholarships. Take the bus. Live like a
pauper. A $450 laptop will do what y9ou need for school. Cable tv is a luxury.
Kraft dinner is not. Or, just stay out of it. Get a trade, get work, little to