WASHINGTON, D.C. – Senator Tom Harkin (D-IA) issued the following statement on a new report issued by the Project on Student Debt at The Institute for College Access & Success (TICAS). The report showed that students who borrowed for college and earned bachelor’s degrees in 2011 graduated with an average $26,600 in student loan debt, up from $25,250 in 2010. In Harkin’s home state of Iowa, students carried an average debt of $28,753, with 72 percent of students in the Class of 2011 having debt. Harkin is Chairman of the Senate Health, Education, Labor, and Pensions Committee.
“Yet another report reminds us that ‘business as usual’ in higher education is not sustainable. By empowering students with useful information, promoting transparency, supporting effective loan counseling, and investing in smart financial aid policies, we can take steps to bend the debt curve. This will take a joint effort, however, and shared responsibility. States must step up their efforts, colleges must reform and improve, and students should shop around and examine their options carefully. I look forward to the reauthorization of the Higher Education Act in the next Congress, which is a historic opportunity to make an affordable and quality college education real for all, regardless of background.”
The nebulous majors some of these graduates get are useless and many jobs require advanced degrees for placement in any job except teaching. Skilled labor is in demand. I was talking to a man from Bismarck, ND, last week and there are all kinds of skilled labor jobs available there. It’s a booming area because of the oil fields.
http://www2.bismarcktribune.com/hotjobs_topjobs/
Most people do not belong in college and should attend a Vo-Tech school to learn a trade. All of this excessive debt is being promoted by high school counselors who tell every child they should go to college. Why do you need a degree to work in a factory or WalMart which is where a lot of them end up. Get a trade such as electrician or plumber. They will make more money and will always have a steady job. If they go to college become something in the Health Field. As our population grow we will need more and more health workers. That’s if Obamacare doesn’t kill all the jobs.
The problem I see with people I know is so many take out extra amounts of student loans to live off of as well, not just for paying school expenses. It is irresponsible to take out a loan for 4 years of tuition, plus 4 years of rent, food, drinking money, etc., just to get a degree in liberal arts that won’t get you a high paying job.
I know two students, one took all the money they could get and the other gave back $5000.00 she didn’t need. Yes I said she gave BACK the money. I couldn’t believe my eyes and ears when she said she didn’t need it and didn’t want to pay it back later! WOW got to have some proud parents out there!!