The people at the National Inflation Association (NIA) are making the argument that US college system is the biggest scan in US history. The are planning to release a movie on May 15 to support their claims. The NIA isn’t he only group to look at and deal with this topic.
MSNBC ran a documentary recently called Price of Admission which dealt with the issue of the overwhelming debt that students are taking on in hope of having a better future. These dreams of a better future are coming at a staggering cost:
America’s student debt at the end of 2010 is nearly $880 billion. That number is growing by more than $2,800 dollars per second.
This documentary also revealed that 86% of Phoenix University’s revenue comes from student loans. It was tough to watch the level of debt some students and their parents are burdened with. There is a myth being perpetuated about the value of education in the US–so I look forward to seeing what data the NIA reveals. This is especially sad when you consider that most US kids use College as a right of passage and spend thousands of dollars to “find themselves” in college.
