I've got two things I want to share. The first is a Peter Schiff youtube video where he goes to Burbon Street to ask workers if they got a college degree. The answers are shocking.
The next is an article on Yahoo! 9 Unbelievable Student Loan Horror Stories:
...I am currently a public school teacher with an income of $50,000, barely enough income to pay the interest-only payments. I have never missed a payment in over ten years ... and my loan balance stands at $105,000. To date, I have paid over $40,000 in loan payments and because my income restricts me to interest-only payments, and the 7% daily capitalized interest rate, I now owe $15,000 more than I borrowed....I just can't believe the interest rates these kids are getting charged especially in this day and age of record low mortgage rates. It's just incredible.
My student loan situation has nothing to do with a lack of financial responsibility.
I have never missed a student loan payment and I have paid off $20,000 in credit card debt and a $10,000 car loan since graduation. I have no mortgage or any other outstanding debt, just my student loans. I have a credit score of 820. However, because of the usurious interest rates, capitalization of interest and the sole option of interest-only payments, I will never be able to pay off my student loan. It’s just not possible, unless I win the lottery."