Posts tagged with: student loans

The lowering of education quality has been noted in the recent past on the PowerBlog (here and here). Last Saturday, Casey Harper noted at educationviews.org that even students are complaining about the declining rigor of American education.

Harper notes that, according to a recent survey,

More than half of eighth-grade history and civics students say their work is “often or always too easy,” according to the report. Twelfth-grade students sang the same tune, with 56 and 55 percent, respectively, saying their civics and history work is “often” or “always” too easy. (more…)

Blog author: aknot
posted by on Monday, July 2, 2012

Fresh out of college and full of ideals, young Americans are finding that, in this economy, the American Dream comes at a steep cost. Just ask Michelle Holshue:

At 30 years old, Holshue exemplifies a key tenet of the American dream: exceeding one’s parents’ education and income.

“My dad never finished high school,” she says. “So in that sense, I am doing better than my parents did.”

Holshue’s father is a school bus driver, and her mother, a teacher. At this early stage in her career, Holshue is already making more money than her parents make after decades of working.

Even so, all her credentials came at a cost. Holshue’s student loans for her bachelor’s and nursing degrees total $140,000.

“I think at last count there was something like 20 different loans,” she says, paging through a thick binder of loan statements.

Holshue says she’s in debt more than her parents ever were when they bought their house. In fact, her monthly student loan payment of $1,100 is nearly as much as her rent.

“The first of the month, I might have $100 to live on for two weeks. Which doesn’t even pay my transportation cost,” Holshue says.

Holshue’s story, broadcast by NPR and linked to at Instapundit, is unfortunately far from the exception for many Americans, especially those leaving college to enter the workforce. Recent graduates needn’t wait long before their idealism is saddled by debt and their career aspirations, once the exemplar of the much-lauded American Dream, become something more nightmarish.

The question remains:  How can we solve the debt problem for future generations? Thus far, the Obama administration’s answer has been an enormous increase of the national debt and the passing of health care legislation that will raise taxes on 3 million middle class Americans. This amounts to a widespread suffocation of economic opportunity. Continued policies along this lines will force coming generations to confront the debt of their forebears and strain not to build a better future but to recompense the mistakes of the past.

Blog author: dpahman
posted by on Wednesday, May 9, 2012

Virgil's Aeneas fleeing the sack of Troy with his father on his shoulders and leading his son by the hand.

“Even the conventional everyday morality,” writes Vladimir Solovyov,

demands that a man should hand down to his children not only the goods he has acquired, but also the capacity to work for the further maintenance of their lives. The supreme and unconditional morality also requires that the present generation should leave a two-fold legacy to the next,—in the first place, all the positive acquisitions of the past, all the savings of history; and, secondly, the capacity and the readiness to use this capital for the common good, for a nearer approach to the supreme goal. This is the essential purpose of true education….

According to Solovyov, there is a basic, commonsense morality by which most parents feel an obligation to leave an inheritance to their children and give them the opportunity and know-how to use it. He goes on to argue that this principle ought to be expanded generationally: “the present generation should leave a two-fold legacy to the next,” passing on what it has received and instilling in the next generation the ability and desire to use the heritage of human history for the common good. This, he believes, is the “essential purpose of true education.” As commencement ceremonies are celebrated throughout the country this month, how well, I wonder, do we match up to this standard in the United States today? (more…)