United States, student loans exceeded the credit - card debt

United States, student loans exceeded the credit - card debt

Student loan debt to exceed $1 trillion before 2012 Student loan debt surpassed credit card debt in the United States for the first time ever this year and is expected to hit $1 trillion Newly Graduated And Drowning In Six Figures Of Student Loan DebtRecently, student loan debt exceeded credit card debt, meaning that Americans now we have met the enemy and it is not them it is us.Buried By Debt - Hartford Courant Student Loans Amount Owed Now Exceeds Credit Card Debt The U.S. reached a very disturbing threshold this year when the amount of money Student loan debt exceeds credit card debt in USATotal student loan debt exceeds total credit card debt in this country, with $850 billion outstanding, according to Mark Kantrowitz, Student Loan Debt Exceeds Credit Card Debt

expensive education a daunting problems faced by young people and working class households in many countries. In the United States, for the first time student-loan debt to pay tuition fees-exceed amount of credit-card debt, write Schumpetter in The Economist (15 / 4).


It's certainly not unusual given the news for families in this imperialist country that is famous for its high credit card debt to finance their consumption needs. Increased student loans that exceed the amount of credit-card debt is not caused by a decrease in the amount of consumer debt but by the high cost of education in the country's main supporters neolib. "More students are borrowing more money Than ever before in order to buy a commodity That Is Often of dubious value," wrote columnist's leading economic magazine.

This is a further development of the report Kevin Carey and Erin Dillon "Drowning in debt: the emerging student loan crisis" in 2009. Duty of public universities doubled-not including inflation, over the past two decades, without offset rising household income and student financial aid. Households and the young United States had no choice but to borrow more.

But more worrisome is the analysis of federal financial aid which recorded an increase in the loan amount and the number of students who borrow from unregulated private student loans (roughly a kind of loan sharks.) This is the most widely performed private campus. If this continues, the U.S. youth access to higher education will be reduced, life choices become limited, and failed to pay a severe level - catastrophic loan defaults rise.

Contrast of Latin America

Conditions experienced by households and students in these countries is contrary to the neoliberal perceived luxury of youth in Latin American countries that has transformed its economy into a socialist direction.

Government of Venezuela for example, in 2003 the past, armed with the proceeds from the nationalization of oil and gas company has opened the Universidad Bolivariana de Venezuela. The establishment of this university is part of the Mission Sucre, one of the many social programs Chavez's socialist government. This is Chavez's commitment to provide free higher education to the poor. No wonder the number of students at public universities in Venezuela, up from only about 489,000 in 1998 to around 2 million people in 2010.

In the Education for All Global Monitoring Report 2010, the UN agency UNESCO report, Education for all Development Index (EDI) Venezuela continues to rise, by 5.1 percent in the period 1999-2007, 2.4 per cent during 2006-2007, and continued to rise reaching .956 figure in 2010, slightly adrift of the perfect score 1. EDI is a measure of progress in education related to access, equality and quality of education based on universal primary education, adult literacy, gender equality, and student survival rate. Venezuela is now ranked 59 of 128 countries, up from 64 at the measurement sequence 3 years ago. EDI is Norway's first sequence, followed by Japan. State socialist Cuba was ranked 14.

Conditions in Indonesia

in Indonesia, although the practice of student loans does not seem significant, it does not mean households in Indonesia, despite the burden of debt to finance their children's education. In East Nusa Tenggara, customs educational children together with the cost of a wedding ceremony and a series of death-became one of the reasons households mired in debt or loss of productive assets.

Across Indonesia, "creeping privatization" of universities through changes in the status of a State Owned Legal Entity (BHMN) will inevitably continue to increase the amount of family debt and lost assets. Although the Constitutional Court has declared violates the policy BHMN 1945 Constitution, the high rate state universities that became the consequences can not be lowered again. The term "creeping privatization" we use to privatization scenarios that do not directly transfer the ownership of the institution in the private sector, but the financing of investment and operational costs are borne by the public institution that became the consumer. This is the scenario of full-cost recovery on services lively applied to clean water, education, health, and electricity.

The news circulating, in 2011 was to follow the selection entered at Bandung Institute of Technology, prospective students must pay Rp 800,000 registration forms. If the pass is received, the applicant must set aside Rp 50 million. That's not including tuition fees of Rp 5 million per semester.

Costly tariffs higher education have an impact on two things: first, of course, the number of Indonesian youth quality education will be more limited; a second, foreign institutions scholarship giver becomes the new god for the youth in developing countries who want raise social status through education high. Since most of these institutions are agents who sponsored the success of the agenda of neo liberalism in the developing countries, the distribution of scholarships is a continuation of the project created the "Berkeley Mafia" in the early days of New Order. Scholarships from foreign institutions will be creating an army of intellectuals who became the seller of the nation, the shouting jargon pelafal a talkative defense against neo liberalism. Last night, before this article was made, a friend, a doctor who received a postdoctoral fellowship at Harvard University, send me an email stating its support of neo liberalism. View a history of studies that solely funded scholarships from sponsoring institutions neolib, I am not surprised by the gesture.