The Income Based Repayment (IBR) program, which took effect in 2009, is designed to lighten the student-loan burden for some students. The basic idea is to limit monthly payments to less than 15% of disposable income. If a student makes these payments for 25 years, any remaining balance is forgiven, meaning that taxpayers essentially pay […]
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The Chronicle Review is notorious for publishing outlandish opinion pieces more in the nature of white-hot rants than well-reasoned essays. A good case in point is Professor John Quiggin’s “A Vicious Duo” (September 16 – subscriber site), is one of the most overwrought pieces I’ve read there. Quiggin, who teaches economics at the University of Queensland […]
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In a recent essay in The Atlantic, Andrew Hacker and Claudia Dreifus lament that most students have to take out college loans. They write: “At colleges lacking rich endowments, budgeting is based on turning a generation of young people into debtors.” While Hacker and Dreifus blame the universities for encouraging students to take on more […]
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With its $34 billion endowment growing at the rate of nearly 20 percent a year thanks to astute investments, Harvard University is probably the richest university on earth. But that didn’t stop Harvard from raising its undergraduate tuition 3.5 percent for the 2008-2009 academic year, to a record $32,557. When you figure in room, board, […]
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