Out of Touch Congressman Tells Homeless, Educated Debtor That He Supports Higher Education
On March 30th, I wrote a brief post about Tagean Goddard's coverage on mounting defaults. A growing number of economists and policy analysts are finally acknowledging that student loan debt, and the alarming number of people who are defaulting on their loans, is having an adverse affect upon the health of the economy. Indeed, younger people with degrees, who should have disposable income and the ability to buy homes, cars, etc., are unable to make these sorts of purchases. Even worse, some of these individuals, and we're not just talking about young, educated Americans, are barely surviving. (Incidentally, I wrote an article titled, "Young, Educated, Indebted Americans Unable to Purchase Homes," over a year ago about this very topic. In that piece, I interviewed Rick Palacios, Jr., a senior research analyst, at John Burns Real Estate Consulting (JBREC), who discussed the problem of young people being unable to buy homes and who are finding that they have to move back home with their parents after graduating from college).
Some aren't even fortunate enough to have the option of moving home. For instance, on my Taegan Goddar post,
Some aren't even fortunate enough to have the option of moving home. For instance, on my Taegan Goddar post,