Re-Blog: "Student loans — to default or not?" by Kamal Fizazi

My friend Kamal Fizazi, who is an excellent writing, has tackled the issue of student loan debt on reading a New York Times article on the topic. His blog post, "Student loans — to default or not?", is here.

Some excerpts:

"Ensuring fair access to tertiary education is critical to the political health of a democracy. 40 million Americans face a whopping $1.2 trillion student debt load. This is not just a problem for the individual borrowers. Rising student debt risks undermining economic growth. Furthermore, an access model built on interest-bearing loans has clear racial implications, producing a disparate impact on minority access to higher education, while rising tuition costs also lead to a drop in diversity on campus. ... Other countries not only offer us insight into how to do things differently, they also offer cheaper alternatives. If things don’t improve, more US students may choose to get a free university education in Germany, and those intent on studying to become doctors without crippling debt could pursue their dreams by studying medicine in Cuba."

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The image below is from Kamal's blog post; I am using it here for Facebook visibility purposes.