Could Student Loans Be the Next Subprime Crisis?

The subprime mortgage crisis was a disaster built in the shadows of the financial system. Banks were making home loans to people with shaky finances on the wishful idea that home prices wouldn’t fall. Those loans were pooled in mortgage-backed securities and collateralized debt obligations and markets snapped them up without a second thought as…
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Republicans Working Hard to Avoid a “New Normal” of Soaring Student Loan Debt

President Obama’s legacy may come to be defined by two words that have become synonymous with the post-recession economy: “New normal.” Economists have used the words to define a number of troubling trends that seem to be eroding many of the assumptions we were able to make prior to 2007. The labor participation rate is…
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Young Adults Want to Be Entrepreneurs, Student Loan Debt is Stopping Them

Barbie, for better or worse, is a cultural touchstone, a reflection of pop culture values. Nowhere is this more evident than in her career choices. The doll began in the 1960s with a very clichéd list of acceptable professions for women – model, nurse, flight attendant, etc. Through the years those options grew to include…
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Millennials Aren’t A “Lost Generation” – At Least, Not All of Us

“Millennials are either impressively optimistic or blissfully ignorant,” writes Fusion’s Rob Wile. The snide comment comes on the heels of a Fusion survey which found that more than a quarter of young adults expect to become millionaires even though 28 percent lack full-time jobs and 46 percent still live at home with their parents. Fortunately,…
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The Government is Fast Becoming an Investment Bank. Is That What We Want?

(Continued from Part I) These sorts of loans, big and small, paint a picture of Washington engaging in “venture socialism,” a term coined by former Sen. Jim DeMint. Labeling anything “socialist” these days raises the hackles of liberals and the eyebrows of skeptical young adults, but in this case the descriptor seems apt – government…
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Student Debt is Soaring. Here Is What We Can Do About It

The cost of a college education has soared in recent years. Unsurprisingly, as Joseph Lawler reports for the Washington Examiner, student loan debt has skyrocketed right along with it: Student debt has nearly quintupled since 2004, when it was just over $250 billion, according to Federal Reserve Bank of New York data taken from credit…
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Generation Squeeze

Over the past several years the Millennial generation has been squeezed from two directions: On one side, ever rising college costs have pushed enormous amounts of debt onto young adults, and on the other, the recession, and subsequently weak recovery, has prevented young graduates from earning a paycheck sufficient to survive on their own, much…
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For Many Graduates, Looking for a Career is Their Day Job

For all too many young adults who walked across the graduation stage in May their first job has required long hours sitting in front of a computer screen and filling out tedious paperwork. Worst of all, it pays nothing. So what is this thankless career path? Well, young graduates are finding that their first job…
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Obama’s Student Loan Proposal Tackles A Symptom, Not the Disease

Identity politics: At this point it’s a tried and true, albeit depressing, strategy in which the White House’s number crunchers figure out how to cobble together a constituency capable of winning and then set about either giving speeches or passing executive orders meant to target them. Currently in the White House’s crosshairs is young adults,…
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