Education / Schools

The Student Loan Racket: Now in One Easy-to-Understand Graphic

I’ve written a lot about the horrible reality of the student loan industry. I’ve talked about how schools have no incentive to keep costs under control, how student debt is the next “credit bubble,” and how student loans cannot be discharged through bankruptcy (which is ridiculous). But I’m not good with pictures. Luckily, the people […]

By Elie Mystal on September 03, 2010

I’ve written a lot about the horrible reality of the student loan industry. I’ve talked about how schools have no incentive to keep costs under control, how student debt is the next “credit bubble,” and how student loans cannot be discharged through bankruptcy (which is ridiculous).

But I’m not good with pictures. Luckily, the people at CollegeScholarships.org are good with pictures. They brilliantly break down the entire student loan racket in one easy to understand graphic.

Look at it; share it with your friends. Send it to parents of kids bound for higher education. If you are wondering why America’s students are in such a bind, here’s all you need to know…

Student Loans Make Education Affordable. Or do they? [College Scholarships]