If you think you have heard it all about the student loan crisis, then I bet you think the main culprits are the undergrads, who amass debt and then ask for forgiveness?
But you would be wrong.
The real problem, according to the Wall Street Journal last week, are graduate students, who now account for 40 percent of all student debt.
That’s even though grad students represent just 14 percent of the student population in higher ed.
Talk about tail wagging the dog.
Grads students take out the most loans and are America’s elite student debtor class.
According to the Journal, the number of students with at least $100,000 student debt went up more than FIVE TIMES to 1.82 million students. That’s a little larger than Philadelphia. Imagine an entire city with massive student debt, living on ramen noodles.
