Group Think: The opposite of traditional ''groupthink,'' our Group Think poses one question to a variety of smart thinkers for insightful perspectives on relevant issues.

What’s the Best Way to Solve the Student Debt Crisis?

We all know the importance of a college education — it’s an essential part of the American dream, a route out of poverty. College graduates earn more and have a lower unemployment rate than those without degress. But at what price? Americans collectively owe nearly $1 trillion in student loans. That’s more than we owe in credit card debt. Individually, students today will graduate owing an average of $27,000. As these totals continue to soar, so do default rates — more than half of student loans are either in deferral or delinquent, and the default rate is almost 12 percent.  So how do we relieve some of the burden carried by the more than 38 million Americans with outstanding student loans and make sure that college is affordable for future generations?

  • Alan

    No one really cares about the interest rate. It’s the sticker price- and the structurally predatory lending system that stands behind it-

    It comes down to returning bankruptcy protections.

    I would think that the Young Invincibles staff would have clued into this fact by now. I know that at least one of their staff worked for years in the war room of a bank lobbying firm credited with a “stealth campaign” that caused the Home Mortgage crisis and before joining YI made similar stealthy efforts to steer the agenda of the Studentloanjustice.org group away from bankruptcy protections. This was both unhelpful and troubling.

    Having said that, I do hope YI will start fighting for the largest interests of the students, not pump up distractive non-issues like this interest rate debate.

  • Anonymous

    Democratize Higher Ed and eliminate the Iron Cloud. Convert the NSA Data Center into a Global Online University.