While students could always use more information about their loans and the cost of college, focusing too heavily on financial literacy as a route to curbing student debt “overcomplicates the discussion,” said Mark Huelsman, a senior policy analyst at Demos, a left-leaning think tank. College graduates are struggling with debt in large part because it simply costs a lot more to go to college these days, a fact of life students can’t get around even if they’re armed with more information, he said.
“Advocating for better financial literacy implies that students right now are making bad decisions, but as I see it the issue with student debt is almost exactly the opposite,” Heulsman said. They’re taking adults’ advice and going to college.
