Like ladders, college loans need warning stickers

I recently read of a young woman who graduated from college with accumulated college loan debt in excess of $200,000.  I also recently purchased a ladder. Pasted on the ladder were twelve (!) prominent warning labels.  They had three varieties of headers in red, yellow, and orange, with bold, black capital letters: WARNING, DANGER, CAUTION.  Below the headers were printed long and detailed warnings and cautions.   Who would have imagined that by climbing a ladder, one might be in danger of falling off? But the young woman's plight — apparently, upon graduation, she became anxious about the prospect of having to repay in excess of $200,000 — made me wonder whether student loan applications carry appropriate warnings.  Given the huge outstanding collective student loan debt — Forbes reports aggregate student-loan debt outstanding at $1.5 trillion — I suspect that prospective borrowers are not...(Read Full Post)
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