For graduates, student loans turn into an albatross

The Christian Science Moniter reports:

Helen Lowery graduated from Boston University last Sunday with a bachelor's degree - and $22,000 in loans. But that $22,000 isn't stopping the psychology major: She plans to attend American University's Washington College of Law this fall, where she expects to borrow money again - this time, $120,000.

"It's daunting," says Ms. Lowery. "I'll be putting myself into debt for 15 years after law school. It just bothers me that there are so few other options if I want a good education."


Student-loan debt encumbers almost two-thirds of the Class of 2006, according to federal statistics. With tuition costs continuing to rise far faster than inflation and interest rates on federal student loans about to increase, the debt load for future graduates is set to become so heavy that it's likely to turn more students away from low-paying occupations like teaching.

The Education Lobby and the MSM keep telling us how much more money college graduates make.We ask this question: will Ms.Lowery really make more money than someone who doesn't go to college after paying off principal and interest on those loans plus the years of lost wages being in school? We have our doubts.The more government subsidizes college tuition,the higher the tuition will go.This doesn't seem to bother Dick Durbin or Chuck Schumer like oil prices do.It appears that Durbin and Schumer are tools of the Education Lobby.