Economic Opportunity Program Director Tamara Draut discusses the debt-for-diploma system during graduation season. Draut documents how the birth of the debt-for-diploma system is squarely attributable to two factors: soaring tuition prices and dwindling federal financial aid, calling for an end to this system and a return to policies that shapes higher education as a viable opportunity in America.
The median earnings of a young worker with a college degree have remained flat for three decades. Keep in mind too that young professionals now routinely need to fork over one-third or even half of their income for rent, thanks to skyrocketing rent prices in job-rich metropolitan areas. And while it's true that college grads will earn more over their lifetime than the college-have-nots, that argument fails to take into account the societal gains of an educated populace.