Student Loans: States Are Passing College Costs to Students & Parents; Financial Cost Though Exceeds Financial Benefit

In reading a discomforting article in the New York Times about student loans, I stopped particularly on a paragraph. The belief in college paying off I think comes from the post-World War II period, when the American economy prospered while rebuilding Europe.

Appallingly, that paradigm is still being used today when that expansionary economic element is not present. The price of college increases yearly, while wages are stagnant and states no longer want to contribute to the cost of operating state institutions of higher education. In this case, people should not go to college automatically. However, high school success is measured by college attendance, so persons declining to attend college usually face social resistance.

Christina Hagan is an Ohio lawmaker who says students need to understand that attending college is not an entitlement. Last year, she was appointed to fill a seat once occupied by her father in the Ohio House of Representatives.

Ms. Hagan, 23, is also a college student.

Ms. Hagan is also a Republican. The talking point of self sufficiency was ably uttered by the Ohio legislator (and caused me to ponder on the paragraph), but clearly the effect on her is not the same as her presumably wealthy colleagues in the Ohio and national Republican party, as she has to hold other jobs to pay her bills.

However, Ms. Hagan is in a better position that other indebted students interviewed in the article. She has a position of power (her father was an elected official) and a possibility of making more money because of holding her political position (unclear whether she will run for the seat, but I’m thinking she will). Also, she is already making in wages ($60,000) almost as much as the total amount of loans ($65,000).