With the September unemployment rate being released this upcoming Friday one thing is clear -- more and more college students are graduating without jobs, and that means they are unable to pay off their student loans. According to a Pew Research Center report 1 in 5 households are effected by student debt. The news keep getting worse for America’s college graduates.
This month Washington Monthly has released a list of the top Colleges and Universities in America based on social mobility, civic engagement, and cost. The article explores our current system for collecting student loans and argues that we should adopt a system like the ones found in Australia, New Zealand, and the UK where repayment is based on the borrowers future income, not a pre-set value decided beforehand.
Be sure to tune in at 3:40pm for the full conversation with Washington Monthly Editor Paul Glastris.