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ERIC Number: EJ987249
Record Type: Journal
Publication Date: 2012-Sep
Pages: 4
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-0748-478X
The Debt Threat
Daugherty, Brian
CURRENTS, v38 n7 p40-43 Sep 2012
The value of a college education, long held in the United States as a ticket to prosperity and a sound investment, is increasingly being called into question. Rising tuition, mounting student debt loads, and dim employment prospects--topped off by incessant news coverage and opinion pieces about the three--are causing many to ask whether college is worth the cost. With more and more students re-evaluating their investment in a college education, those in advancement should consider the following: How will rising student loan debt affect alumni giving in both the short and long term? While many undergraduate institutions are wrestling with this issue, the problem is more pronounced for professional schools. Consider law schools, where the average debt load for many exceeds $100,000; for numerous graduates, this balance is on top of loans used to finance an undergraduate degree. One need look no further than the recent class-action lawsuits brought against several U.S. law schools by their alumni regarding allegedly misleading postgraduate employment data to detect the budding resentment among many new graduates. Today's weak job market contributes to a growing sense of frustration for a multitude of graduates. The job market will eventually recover, but the challenge of appealing to an ever-growing number of graduates with significant debt will remain. "The New York Times" describes this generation of college graduates as one "hobbled by debt." Significant student loan debt can shape their lives adversely in many ways--such as stalling or thwarting their efforts to buy a house or start a family--and can forever change the way they feel about their alma maters.
Council for Advancement and Support of Education. 1307 New York Avenue NW Suite 1000, Washington, DC 20005. Tel: 202-328-2273; e-mail: memberservicecenter@case.org; Web site: http://www.case.org
Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: California