In response to:

As Student Debt Reaches Record High $27K, Half of Grads Underemployed

William3557 Wrote: Feb 03, 2013 6:34 PM
The sad thing is that in the first two years of college students will retake the same courses they just took in high school. Only in America. My son, the MD, took part of his clinical rotation in England and he was two years older than his classmates because they only go ten years there. Our neighbors to the north, Canada, have only 10 or 11 years of school depending on the province. The College Board, owners of the AP and SAT, has had their College Level Examination Program, CLEP, since the 1960's, yet few parents and teachers know about it. They have 33 0f those exams and it is very possible to take the course in high school, and then CLEP exam to get college credit. It is easy to start college as a junior right out of high school.

What self-respecting parent would give their kid a credit card if they knew they were going to max it out and not be able to pay it back? Hopefully, no one. In fact, as a responsible parent you would probably teach your children the opposite habit--responsibility.

This paternal irresponsibility is what is occurring on a larger scale with the federal government and the student loan industry. President Obama has earned himself a failing grade in responsible parenting.

FICO released a new study that analyzed 10 million credit files to find trends within the student loan industry. The group concluded...