“I’m mad as hell and I’m not going to take it anymore,” is the famous quote from the 1976 movie "Network" starring Peter Finch. That phrase incited audiences to take action! Boy, do we need action now!!
Here's my question: What is it going to take for people to get angry enough to keep the pressure on our legislators about the ever increasing and inflationary price of college?
The New York Times had an article last weekend about college grads who have over $100,000 of debt, can’t find a job in their field and are working for $8.00 an hour with payments of $800.00 a month. Do you know how long it will take that young person to pay off $100,000 debt? Right - basically forever.
And, of course, unlike working adults who get into too much debt, student loans can’t be defaulted on without serious consequences. So the trap has been set. Are we as a nation deliberately handicapping our college students with overwhelming debt just like their parents were set up by credit card companies? We see how well the super consumerism backed of the 90s created bankruptcies in the millions, homes lost, savings devastated and lifestyles changed irrevocably. And, yes, being a Certified Money Coach and a therapist, I think personal responsibility is a must, but there's a responsibility that needs to be borne by the banking and financial institutions as well!
In order to maintain a middle class we have to keep public education available at reasonable rates. Pay particular attention to the privatizing of colleges which have astromonically escalated the cost of a college education!! Enough – Get Angry and Take Constructive Action for your children and grandchildren now!! I'm curious what you think - how is the rising cost of a college education affecting your ability to send your children to college?