Is a College Education a Prerequisite for Personal Economic Success?

Is a College Education a Prerequisite for Personal Economic Success?

After the 112th Congress effectively struck a deal last year preventing interest rates on subsidized Stafford loans from almost doubling to 6.8 percent from 3.4 percent for another year, many students from across the country were exultant. Not surprisingly, they deemed this bipartisan compromise (a rarity in Washington these days) as step towards lowering higher education costs and alleviating the crushing burden of debt threatening the futures of so many American college graduates. But this eleventh hour resolution, although widely praised by both Republican and Democratic lawmakers, is nothing more than a temporary fix to a longstanding problem; one that...