The bad news about student debt just keeps coming: have a look at this piece from CNBC’s Sharon Epperson. Apparently, lots of parents – either in middle age or nearing retirement – are signing off on hefty loans for their sons or daughters to go to college. Exactly what the money buys them in terms of an education is increasingly problematical, as we’ve argued here regularly. What they do get for certain, however, is a pile of debt that wipes out their retirement nest eggs, gets them into mortgage quicksand and contributes to the growing national problem of defaults on outstanding debt.
As Chester Riley of yore might have put it, What a revoltin’ development.