Sep. 18, 2013 - 5:20 - Former Education Secretary Margaret Spellings on the rising costs of a college education.
But as the article points out, the federal government is making quite a profit off of student loans. In 2013 it is estimated that the Department of Education made a whopping $50 billion profit from student loans. So even though the federal government has taken some steps to help ease the giant financial burden recent college grads have had to deal with by capping the interest rate on student loans to 10% of income, and forgiving any debt still owed after 20 years, they really have no incentive to do anything about the exorbitant and continually rising costs of a college education.
For more on the student loan crisis and how state budget cuts have driven the rising cost of a college education, check out “,” a new interactive feature.
Rising Costs of College Education by ..
The Rising Cost of College Education