Poor and middle-income parents at hundreds of colleges have taken on substantial debt—amounts sometimes more than twice their annual income—to help their children through school, new federal figures show.
The schools with the largest parent debt burdens aren’t world-famous Ivy League schools, a Wall Street Journal analysis of the data found. Rather, they include art schools, historically Black colleges, and small private colleges where parents are borrowing nearly six-figure amounts to fulfill their children’s college dreams, the analysis found.
For the first time, the U.S. Education Department, through its annual release of college financial data, provided information Wednesday on the level of debt parents took on through a federal college loan program called Parent Plus. Previously, the department released information on debt levels of students at specific colleges and universities, but not the borrowing taken on by parents on a student’s behalf.
The Parent Plus data “provides a more complete financial picture of how recent graduates have paid for their postsecondary education, especially if their parents took on debt to help them cover some or all of the costs,” the Education Department said in a statement Wednesday.
Colleges don't leave people with debt. People get *themselves* into debt. Bad consumers who take the loan to pay the bill aren't the fault of colleges. Parents are big part of the problem, too.
In 2008 the liberals came down hard on lenders for easy lending for home owners. Seems to me liberals need to come down on university’s for manipulating stupid parents and students as well.
Not one word that most of the highest-debt schools were oriented around art and music? Not one word about student majors (whether ancient archaeology or medieval philosophy or whatever) and indebtedness? Terrible analysis looking for ideologically-driven causes to blame...
Parents leave themselves with debt.
As if the majority of everyone’s “parents” are the ones driving themselves into student loan debt for their kids. I think not. I was lucky my parents were able to get me to the dentist. Let’s get real. Most students in America are taking on the loans themselves.
Now we see why the kids are so dumb. The parents are dumb. Who in their right mind would borrow six figures to send their kid to college, let alone an art or music school? Why do people find it impossible to live within their means? Have you never heard of community college?
All of this NONSENSE BECAUSE KIDS NOR THEIR PARENTS CAN READ FINE PRINT ? WTF ARE WE REALLY GETTING AT HEAR ? ITS. ITS NOT A FUKING MYSTERY ?
Go Violets?
Parents? 😐
Kemp has blood on his hands for allowing these super spreaders.......I feel so sad for them and all who come in contact with them. But mostly for the healthcare professionals, like my daughter who is on Covid duty 12 hour shifts, who feel hopeless when they see these events!!😢
Important piece of information let get more to share.
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this is terrible news
Parents? Mine must not have abided by that financial tidbit.
How you gonna charge us to read an article about the debt that we’re in?
The fact that Black parents are being saddled with MASSIVE debt to educate their children infuriates me. At one point in time, we were forbidden to learn to read or write. Now we have to go broke to achieve higher education and even then we're left behind in hiring trends.
ednakass
Do everyone's parents really pay for college? I paid every dime myself.
Yup and the ones that have it easy are democrats. That is why certain higher taxes do not affect them Only blue collar folk because of increased costs
“The Education Department requires only a scant check of a parent’s credit history before extending loans, and it performs no assessment of the ability to repay. The result: Some parents have taken on amounts they have little hope of repaying, student-debt researchers say.”
The article is locked, can you guys tell me what the schools are?
When I got my BA, the university’s main purpose was to make students well-rounded citizens rather than prepare them for a profession. When did that change?
The list is a little deceptive because Stanford and USC are debt free if families make under $100k. CSU Maritime guarantees employment and 6 months a year on a ship with no expenses except your loan allows payoff and savings.
Not a question of Ivy League or not, of those who knowingly go to these schools with the knowledge that it may be hard to pay it back, should not expect other taxpayers to forgive their loans.
Parents with the most debt? My parents are debt free. They didn’t give me a dime for school. I’m the one saddled with $175,000 in student loans.
As a graduate of SCAD, I’d like to stress that my parents aren’t in debt - *I AM* I have a degree in Architecture. Ten years and thousands of dollars later, every dollar I have to spare goes to loans.
Leaving parents with debt ? Wheres the list that shows leaving the graduates in debt?
I will say this. Having raised three children who attended four colleges I can definitively say, money aside: nyuniversity sucks (no infrastructure) and BU_Tweets rocks (infrastructure to spare). The difference wasn’t the money but what I got for our money re: for the kids.
Reed College, Portland, OR.
If I ever have a kid, I hope they go to CUNY. I loved Hunter College. Went there twice.
Parents?! I thought it was the poor students.
This isn't hard...... DON'T GO TO THOSE SCHOOLS
It’s not parent loan debt. It’s student debt.
Funny...I literally don’t know the first person AT ALL who’s parents paid for their college. The only debt I have is my student loans. Finished college in 2007 & I *still* owe $30K for a degree I have never used. Luckily my loans are so old they have fallen off my credit report.
Parents? Some pampered pooch wrote this article. Most debt is being paid off by the student. ( that's why it's usually called 'student debt')
There really isn’t any point, why bother going somewhere the tuition is triple the amount I’m paying now when in the end jobs look towards one with more experience than simply what school you went to. There are jobs like that but not the majority.
I think the only reason for going to “big” university should either be if students want to go into careers such as law, medicine or something along the lines of this. I’m studying to become a teacher but I’m only going to a local state university. I could’ve gone to UConn but...
Lemme take a wild guess... the expensive ones in the expensive places
Parents? Mine are debt free and I’m paying the $60,000 on my own.
And these idiots want us taxpayers to pay for their debt.
You can go to school part-time and work. There are lots of ways that are not the “traditional” experience of dorm living etc.
The title should be: 'Which Country Leaves Its Citizens With The Most Student Debt.'
1 problem, parents shouldn't be responsible for college debt. It's your education, you pay for it.
Surprised Embry-Riddle actually made the list. There should be a different column for flight students debt. Exponentially higher than the rest of the student population.
All of them leave families in debt at the end they still can't find employment.
WHY must the PARENTS incur the debt? Work, students, work!!
If Harris/Biden are going to write it off, why does this matter?
Shiiiit, I wish! I nor my husband had the luxury for our parents to pay for our college. I worked full time, went to school full time 20 years ago and still paying my student loan.
Very interesting stats on debt associated with education at Idaho universities. See article for details and hope your kid wants to stay in state for school and attend not some small art institute on the coast.
Sign of the times. No accountability. These are choices. Colleges are not forcing anyone to do anything. Demand = higher cost. Use the system. Don't blame it.
Parents? My parents gave NO money towards my degree.
My parents haven't even paid their own student loan debt
Where's USC? Without housing in state tuition is 40K+. 160K for a bachelors degree is HORRENDOUS.
Wait, who has the debt?
Why does this say ‘parents’ My ass is the one who has the college debt!! Not my parents!
You’d be shocked to know how much of this money comes back to the students and parents as refunds. ED requires funds to be used for education-related living expenses but can’t do anything to ensure this is the case.
My daughter went to SVA in NYC .. parent plus loan .. tuition plus housing.. $160,000 ridiculous!
Trump University
Only in America
If you want an education and you’re not rich, guss what it cost. Do or don’t it’s a choice. Talk to your political representatives. Stop publishing more depressing articles when people are trapped just to be educated.
I cannot stop laughing. Parents? Parents?! Is it just me who thinks most of us have racked up this debt in our own names? I'm so confused. 😂 Parents?!
Don't worry 46 is dismissing all college debt.🤦♀️
Jason the must be listening to the TWiStartups pod :)
Why are parents allowing their kids to attend colleges they cannot afford, start out in a community college and then transfer to an instate 4 yr college, instead of having bragging rights about the big fancy colleges they want to attend.
JUST THOT OR TWO : FOR EVERY ATHLETIC SCHOLARSHIP- GIVE NEED BASED SCHOLARSHIP - ALSO : FED - INSTEAD OF GIVEAWAY MONIES - JUST HAVE ALL STUDENT LOANS REPAYABLE ON ABILITY TO REPAY / INCOME FROM JOB - “INTEREST FREE” -
There’s too much fat in higher education that can be cut - too many associates- associate coach, associate professor ,associate dean, etc.
Parents? Y’all parents got money?
This is nothing more than predatory lending. It’s no different than the housing crisis when they didn’t require income or job data to borrow money to buy a house.
Somebody tell CNN . They think college cost about $20,000. I've never seen anything that low. $120,000 would be closer to the truth.
Only the colleges that give scholarships to overrated players to play football, but then get kicked off the team, because the coach hurt their feelings Then parents holding the debt and embarrassment Bahahahaha
These parents should tell these kids that a career in art only pays after the artist has been dead for decades. Van Gogh didn’t have a pot to piss in when he was alive. Employers want skills, not theory. I’m directly quoting the hiring manager at my company.
Parents? What the fuck?
Intriguing.
Schools get endowments tax free, they have free capital gains on their investments, they charge foreign students higher tuition, so in turn charge US citizens higher tuitions to get students into debt for most of their lives. A $ handout is not a solution go to root of problem.
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