Friday, May 11, 2012
Student Debt--a problem the government created
Colleges Confuse Students With Letters Offering Aid That’s Debt - Bloomberg: " . . . A letter from Butler University, a private college in Indianapolis, initially appeared to offer more: the $28,100 amount highlighted in a box. After calculations, he and his coach determined the gap was bigger at Butler. Jamrozik and his parents would need to take out $28,000 in loans, more than double the amount for the state school. “It’s certainly not our intention for them to be confusing,” Melissa Smurdon, director of financial aid at Butler, said in an interview. “There is a significant amount of information that needs to be conveyed.” Jamrozik equated the letters to a scavenger hunt. “You’re just going to be suffering for an eternity to pay off the debt,” he said."
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