In the 1960s, Ronald Reagan helped kill free higher education in the United States. Today, in the face of the student debt crisis, the best fight the Democrats are mustering is to try and lessen the pain of Reagan’s legacy.
Everyone agrees we are in a student debt crisis, even the Federal Reserve. Over 38.8 million Americans have student debt (as of the end of 2012). 7 million of them are in default on their loans. Worse still, it is now accepted as fact that college, whether public or private, will be an undue financial burden that students may never get out of. The best one can hope is for a parent or relative to plan early for college. Put money away in a 529 plan (with Wall Street skimming money, as always, off the top).
It wasn’t always this way.