Blog 11
Last class, the topic we discussed was the student loan crisis and how it has rapidly increased since 2011. One of the articles that we read focused specifically on master's programs from well-known and regarded universities that left their graduates with high debt levels and below-average starting salaries. One of the examples was USC social-work graduates. On average their students who took out federal loans borrowed a median of $112,000. A Wall Street Journal analysis of newly released U.S. Education Department data found that two years post-graduation half of these borrowers were earning $52,000 or less annually. Many of these individuals were enabled to accrue massive amounts of debts through Grad Plus Loans. Even with the payments from loans, USC increased tuition on the program by nearly 50% between fall 2010 and 2020. This is in stark contrast to the U.S. consumer-price index which only rose by 19% during that same time period. Unfortunately, examples like USC are becoming...