The New York Times and the Chronicle have mounted a one-two this week to publicize the problem of student debt (something I’ve posted on previously here and here and here). In an extensive front-page story from Sunday, the Times lays out the problem from the perspective of undergraduates, and the Chronicle followed up today with an analysis of graduate recipients, particularly Ph.D.s working as adjunct faculty, that need welfare and other public-service benefits to make ends meet. Both provide extensive analysis; the Times piece in particular leverages an extraordinary amount of statistical support.
The implications of the problem are broad, now that more than half of graduating seniors are going to college. If college is fast becoming a prerequisite of stable middle-class employment, it seems clear we need policies that provide education without burying the students under a lifetime of debt. I was fortunate enough to attend a state school on scholarship; many of my colleagues won’t finish paying off their educational loans for a decade or two.
One place where the Times piece suffers is in its analysis of the sources of the problem. Continue reading