Colleges Flush With Cash Saddle Poorest Students With Debt

[bclintonk]

@HRSMom

Perhaps then the answer is not to let the poor kid graduate debt free, but incorporate generous repayment terms into their loans in the event there is a problem.

2 kids start life with a Harvard degree…their earning power should be equal. (Not including higher income kids with connections, but poor vs a middle class kid.)

Just to be clear, Harvard grads don’t start post-college life with loans. At least very few do (3%), and those that do tend to have very modest levels of debt ($6,000, per the U.S. Department of Education, for which the typical monthly payment would be $67). This is just not an issue for Harvard grads. Though Harvard, as we all know, is exceptional.