The Scourge of Student Debt

Brief: At What Cost? (2013).  As with his earlier brief, “Has the 401(k) Been a Failure?”  (a previous SavvyRecommendation), Robert Hiltonsmith of Demos asks a provocative question. In short, what is the long-term financial cost for a student that incurs debt in the pursuit of higher education? Mr. Hiltonsmith notes that student debt has skyrocketed over the past decade, quadrupling from just $240 billion in 2003 to more than $1 trillion today. Moreover, if current borrowing patterns continue, student debt levels will reach $2 trillion in 2025. The brief attempts Read the Full Story