Audrey Watters Blog on Student Debt as a Business

I read an interesting blog by Audrey Watters entitled Education Technology and the Business of Student Debt where she highlights how much student debt has become a big business for investors and entrepreneurs starting loan companies.  Even the Secretary of Education, Betsy DeVoe is invested in student debt companies.  Today, more than $1.31 trillion is owed in student debt and women hold 2/3rd of that debt.  It was revealed that women have a harder time paying back their debt and that is takes them longer than men to repay student debt due to lower salaries and family obligations. 

Lots of interesting information and statistics presented here, and it gave me a whole new insight into the business of student debt; it's really a huge moneymaker for the loan companies.  Students are so desperate to go to college, they will do almost anything to fund it; with parents taking loans as well against their homes, 401k, etc. to help their children fund college. 

This is a big topic to keep an eye on as my grandchildren grow up.  Time to start a 529 account I think!!!