[Magdalen] US Higher Education

[Cantor03 at aol.com]

In a message dated 1/13/2015 8:32:19 A.M. Eastern Standard Time,  
michaudme at gmail.com writes:

Much is  written about people finishing college with heavy debt,
unlikely ever to  pay off their loans easily. Our Senator Warren
speaks about this often. It  seems to me like a modern example
of indentured  servitude.>>>>
 
 
Interesting take on the student loan problems.  I'm especially
aware of the burden of student loans, having taught medical
students from a variety of medical schools for nearly 50 years.
 
It strikes me that the average senior graduating from USA medical
schools has a loan dept of $150K and many over $200K.  Then
they have to endure low salaries as resident physicians for 3 or 4
years before they are launched into their own medical practice.
 
Statistics repeatedly show that USA physicians' income has
dropped noticeably over the past ten years, and so the new
physician is confronting a massive dept at the start of practice
where their salaries are less than they have been in the past.
 
This dept drastically delays marriage, having children, and the
purchase of major items such as home and autos.
 
Such debt is relatively new.  For example, I had no debt when I
finished medical school, and paid for most of my education/training
by working summers.  That's impossible to do any more since the
educational expenses have ski rocketed.  
 
 
David Strang.