For many student loans are a continuing crisis in their lives. Is this kind of debt for millions of Americans sustainable? What are the social effects?

Does the student loan burden keep students away from running for public office, pursuing jobs valuable to society like police, fire and military?

Is this the way, we as a nation should finance our children’s education when that education is so critical to national success and competition?

Read this article and see what you think.

James Pilant

Like home ownership, a college degree used to be perceived as one of the keys to success. Unfortunately, these days it’s starting to look like a gateway to financial ruin.

The Federal Reserve has confirmed that as of June 2010, consumers now owe more on their student loans than on their credit cards.

A separate report reveals that one in five people can’t make their monthly payments.

As a result, Sallie Mae and Citibank have become the arch nemesis of millions, and the country as a whole faces what some warn is America’s next “mortgage meltdown.”

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