Student Debt

As with so many other public goods, predatory Wall Street financiers are increasingly looking to higher education as another source of profits. In 2012, $45 billion—9% of all higher education spending—was spent on servicing the institutional debts of colleges and universities, on student loan interest payments, and in profits to for-profit institutions of higher education. This is over double the amount paid on these items—$21 billion—in 2002. The growth of individual and institutional borrowing and the huge growth of for-profit education raise important questions about our priorities with regards to higher education.

We believe that reclaiming the promise of higher education means making sure that a college education, provided by a high quality and professionally supported faculty,  is accessible and affordable for all students. It means the promise of college success without being shackled to a large debt bill when finished. It means making sure that the money we spend on our colleges and universities goes to educating and supporting our students, not enriching Wall Street.

View the video: How Wall Street skims higher education