Exorbitant college tuition rates and high-interest student loans may lead to anything but the American Dream. To avoid economic disaster, American students are looking for other ways to pay for college. As a result, there has been a rise in American college “sugar babies.” And now, a new form of educational “financial aid” has emerged: the Income Sharing Agreement (ISA), an American spin on indentured servitude.
“Richard Wolff gives a brief rundown of some of the ways students deal with college debt today. Spoiler: it’s not as dignified as you think.” ~ Richard Wolff’s Talking Sense
I emphasis the word “American” to make a point. Most other advanced nations do not have the student loan debt problem that is so prevalent in the United States.
In case you’re wondering, American student loan debt is currently at $1.44 trillion, according to the Student Debt Clock at MarketWatch. If you think that’s horrific, the figure represents only the outstanding principle and does not include accrued interest.
Aware & Fair