The majority of student aid used to be in the form of grants, not loans. Now it is the opposite. When I was an undergraduate, students were able to make ends meet with a part-time job while they were in school, and to graduate with minimal debt. Now that is simply not possible; many of my students work long hours and have to plan their course schedule around their job schedule, with the result that it takes them longer to get their degrees. I really feel ashamed at how we are letting young people down, and, at the same time, financial security for older Americans is declining as the retirement age for Social Security is increasing.
So other than the fact that young people are not doing well, old people are not doing well, the middle class is shrinking and the number of poor are increasing, everything is just fine!
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