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ERIC Number: EJ836369
Record Type: Journal
Publication Date: 2009
Pages: 2
Abstractor: ERIC
Reference Count: N/A
ISSN: ISSN-1938-5978
Debt-for-Diploma System
Draut, Tamara
New England Journal of Higher Education, v23 n3 p31-32 Win 2009
Over the past several decades, college tuition has nearly tripled, adjusting for inflation, and federal student aid has shifted from a predominantly grant-based system to one dominated by loan aid. These two factors have conspired to create a debt-for-diploma system, affecting young adults' choices about college, including where they enroll and whether or not they complete degrees. With two out of three undergraduates leaving school with student loan debt averaging $19,300, the debt-for-diploma system also exerts a powerful influence on young people's financial stability long after they have received their degrees. In this article, the author explains how student-loan debt saddles college graduates long after they earn degrees, and why she feels that the debt-for-diploma system represents a major failure in a country where higher education serves as the primary lever of economic and social mobility.
New England Board of Higher Education. 45 Temple Place, Boston, MA 02111. Tel: 617-357-9620; Fax: 617-338-1577; e-mail:; Web site:
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Two Year Colleges
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Laws, Policies, & Programs: Pell Grant Program