$188K in college debt — and she can’t write

At 25, Katie Brotherton is working two jobs, but living in a parent’s basement, dependent on Mom (or Dad) for food, gas and health insurance. She owes $188,307.22 for two college degrees at private universities, she writes on Cincinnati.com. (She doesn’t specify her major or her occupation.) Sadly, Brotherton didn’t learn to write or think clearly — and she certainly didn’t learn to do the math.

My pursuit in excellent education is rooted in a value system that promotes progressive thought for the betterment of the individual as well as society. Education is a core tenet and vested interest of the functioning democratic society. Upon that basic assumption and principle, I am overwhelmingly incensed by the silent epidemic of crippling student debt.

. . . this particularly sensitive conversation is being ignored by our mainstream consciousness. Perhaps I should be ashamed for buying such an unaffordable education and internalize my debts as personal failures. Perhaps my mistakes warrant pained silence. But silence breeds apathy, and in regard to the welfare of the American economy, I want to humanize the numbers and give voice to this reprehensible problem.

Due to reckless neglect, student debt will be the financial ruin of my generation, and there is an incredible need for a public discourse addressing this reality and its grave consequences.

I want answers and clarity as to why this happened. How did I arrive at this position in life so financially handicapped and disenfranchised? I followed societal expectations, earned an education and am employed. I will gladly repay my debts within the comfortable reason of affordability.

. . . I am owed answers simply because I have the right to pursue happiness. And since I am not alone in this debilitating epidemic, my peers deserve their voice as well.

Overborrowing and underthinking will get a gal in trouble, writes Bryan Preston on PJ Tatler.

Millennials are “the screwed generation,” some argue. They were told to “invest in yourself” and take on “good debt” to win a guaranteed college premium, writes Megan McCardle on The Daily Beast. As tuition goes up and up, the college premium is eroding for humanities and social sciences majors. For marginal students, college is a bad bet.

 The price of a McDonald’s hamburger has risen from 85 cents in 1995 to about a dollar today. The average price of all goods and services has risen about 50 percent. But the price of a college education has nearly doubled in that time. Is the education that today’s students are getting twice as good? Are new workers twice as smart? Have they become somehow massively more expensive to educate?

College costs rose faster than inflation by 1 percent a year till the mid-1980s, says Ohio University economist Richard Vedder.

“Now I see them rising 3 to 4 percent a year over inflation. What has happened? The federal government has started dropping money out of airplanes.” Aid has increased, subsidized loans have become available, and “the universities have gotten the money.”

“Even with these high prices, you’re still finding a high return for individuals who are bright and motivated,” says Nobel Prize-winning economist James Heckman. On the other hand, “if you’re not college ready, then the answer is no, it’s not worth it.”

And don’t go to a non-elite private college unless the financial-aid deal brings the cost down to the state university level.

Correction: As a commenter notes, Brotherton earned one of her degrees at Miami of Ohio, which is a public university.

How green are Millennials? Not very

Green? Schmean.  Young Americans are less interested in environmental issues than baby boomers and Gen Xers were at the same age, concludes a study published in the Journal of Personality and Social Psychology.

Over the last four decades, in young people have lost trust in others and interest in government; they spend less time thinking about social problems. And they’re not all that keen on green, notes AP.

Researchers found that, when surveyed decades ago, about a third of young baby boomers said it was important to become personally involved in programs to clean up the environment. In comparison, only about a quarter of young Gen Xers—and 21 percent of Millennials—said the same.

Meanwhile, 15 percent of Millennials said they had made no effort to help the environment, compared with 8 percent of young Gen Xers and 5 percent of young baby boomers.

Young baby boomers and Gen Xers were much more likely than Millennials to say they’ve tried to conserve electricity and fuel used to heat their homes.

One professor says the younger generation has less contact with “unpaved” nature.

At Muhlenberg College in Pennsylvania, Biology Professor  Richard Niesenbaum estimates 5 to 10 percent of students are environmentalists, 5 percent are hostile to environmentalism and 85 to 90 percent are OK with protecting the environment and conserving resources, but not interested in being “seriously inconvenienced or paying a cost to do so.”

Perhaps Millennials are burned out on green.