On the recordFebruary 9, 2012
when we went to college, usually things were different. Often a student took out a loan, but those loans were manageable, and usually there were jobs waiting. Today, too often that is not the case. In fact, the students today who take out loans will leave school weighed down, on average, with $25,000 worth of debt. They are going to be trying to get into a labor market where there are more than four unemployed Americans for every available job. It has been noted that for the first time student loan debt exceeds credit card debt, and that now totals over $100 billion. Now, clearly, investment in higher education is an economic imperative. Education is the great equalizer. It enables upward economic mobility, and it breaks down class structures that impair many countries' ability to grow their economies. A highly-skilled and educated workforce is the basis for a healthy economy, and it is the linchpin to our economic future. =========================== NOTE =========================== On page S502, February 9, 2012, the Record reads: . . . now totals over $1 billion. The online Record has been corrected to read: . . . now totals over $100 billion. ========================= END NOTE ========================= In every major economic decision our people make, they try to evaluate the value of that decision.…
