Placing the Blame as Students Are Buried in Debt

Is it really worth $100,000 in debt to graduate from a top school? And is it responsible?

When someone ends up with nearly $100,000 in undergraduate debt, is it the student, the parents, the lender or the college that should take the blame?

I started college in 1989, which was about when the first fed student loan programs first started. I am from a working class family and my parents and I were clueless about the admissions process and about the loan system. Luckily, back then the loans were very reasonable and I chose an inexpensive commuter school because of socialization issues, although I had the grades and SAT score to shoot higher. Today, I might be one of these poor kids stuck with these enormous debts. These colleges and banks are creating moral hazards and taking advantage of financially naive middle and working class families. Why is it that we tolerate shark-like behaviors from financial professionals? Would society allow MDs to use their knowledge and expertise about the human body to take advantage of people this way? Or engineers? Why do the finance people get a moral pass? I also am noting quite a few comments here that show people have bought right into the false meme about how the big name schools are the only way to get the connections needed for a "top" job or "important" career. Nothing could be further from the truth. And I say that as someone who has degrees from very average schools and is working in a very prestigious workplace surrounded by many ivy-leaguers - some of whom I supervise.

No blame attaches to these. Try blaming congress congress for the loan rules.

the bank would not write the loan without the no discharge rule.