Is President Obama right about a looming student loan debt crisis?
It depends on how you define “crisis.” But there is a problem, and it is real.
What remains to be seen is whether or not the President – or anybody else, for that matter – is willing to face the real problem in higher education. Financing an education is not so much a problem, as is the stark reality that the cost of tuition consistently goes up, even when the price of other things declines.
It is a fact that over the last decade many “adjustable rate” student loans were...