I like pictures. They’re easy. They say a thousand words. And I think they’re more effective at getting a point across to millennials than long screeds full of facts, information, and data. I mean, some of these kids have the attention span of fruit flies. Putting information in pictorial form might help.
Today, we have a great infographic that explains the student loan “racket.” Government secured loans, collection agency premiums, non-dischargable debts through bankruptcy — this graphic has everything.
The opening paragraph says it all:
Student loan debt, now at $830 billion, has surpassed credit card debt—a statement not likely to have been heard 20 years ago. Student loans, unlike any other form of debt, CANNOT be forgiven via bankruptcy—these loans MUST be repaid. Is this the next bubble to burst?
Let’s check out the graphic….
The graphic is up at Healthcare Administration.
I particularly like the sections on Sallie Mae and the rise of private loans.
But man, the default rates at two-year colleges are off the charts. I mean, maybe we need to make high schools better and acknowledge that college isn’t for everybody.
In any event, I hope people understand graphics like this. It’s better if we’re informed about the hour of our doom.
Exposing the Student Loan Racket [Healthcare Administration]