“Some Americans caught in the weak job market are lining up for federal student aid, not for education that boosts their employment prospects but for the chance to take out low-cost loans,” reports Josh Mitchell of the Wall Street Journal. They use the loans to pay living costs or to avoid paying back previous student loans. An unemployed retail clerk with an unmarketable bachelor’s in communications has gone deeper into debt to take theater classes. He hopes to find work as an actor. Meanwhile, it pays his bills.
Students borrow for living costs
March 11, 2014 by