As somebody who has both a ton of personal experience and writes extensively on the subject of student loans, I’ve taken great pride in the help and support that I have been able to provide many of you. In fact, if I take a hard look in the mirror, I’d probably have to admit to developing a bit of an ego when it comes to my expertise on the subject of student loans.
As part of my daily reading, I get a Google alert on student loans. Most days this consists of reading about leaders in Washington without a clue, banks with no concern other than money, and borrowers who are in over their head. Most stories are reported by members of the media who at times do a decent job of covering one aspect of the student loan crisis, but who all seem to miss the big picture. (I told you I had an ego about this stuff)
Today, I am happy to announce that a gifted writer has provided the most in-depth and comprehensive explanation of the student loan crisis to date. While, I’m disappointed that it wasn’t me, I applaud Matt Taibbi of Rolling Stone for taking the time to get the facts right.
The full article can be found here: http://www.rollingstone.com/politics/news/ripping-off-young-america-the-college-loan-scandal-20130815
Not only does Mr. Taibbi get the facts right, but he does a fantastic job of explaining how the different issues all come together to create the giant mess that we have today.
If you or anyone you know has or is considering getting student loans, this is absolutely essential reading. If every high school student were to read this article, an entire generation could be spared the pain and heartache of being saddled with debt they never really understood.
Why do we need to educate the youth of our country on this problem?
In the eloquent words of Mr. Taibbi:
“We’re doing the worst thing people can do: lying to our young. Nobody, not even this president, who was swept to victory in large part by the raw enthusiasm of college kids, has the stones to tell the truth: that a lot of them will end up being pawns in a predatory con game designed to extract the equivalent of home-mortgage commitment from 17-year-olds dreaming of impossible careers as nautical archaeologists or orchestra conductors.”
Readers: What did you think of Mr. Taibbi’s article? How do we convey this complicated, but essential, information to the generation that created tl;dr?
(For those of you who don’t know, tl;dr means too long; didn’t read)