On the recordMay 9, 2013
when my colleagues and I went to college, things were a lot different. We took out loans, but those loans were manageable, and there were jobs waiting after graduation. Today, too often, that's simply not the case. In fact, the majority of students today will leave school weighed down with more than $26,000 in debt and will attempt to enter a labor market in an environment where there are more unemployed Americans than there are jobs available. For the first time in our Nation's history, student loan debt exceeds credit card debt and now totals over $1 trillion. James Garfield once said, ``Next in importance to freedom and justice is popular education, without which neither freedom nor justice can be permanently maintained.'' He was right. Investment in higher education is an economic imperative. Education is the great equalizer. It enables upward economic mobility and breaks down class structures. A highly skilled and educated workforce is the basis for any healthy economy. It is the foundation of our country's future. In nearly every financial decision Americans make, individuals and families try to evaluate the economic value of that decision. Like prospective homebuyers who inspect and assess the potential value of their future home, students should be able to compare colleges and programs based on what the likely return on their investment will be.…





