It wasn’t too long ago that an Indiana kid could go to a state school, get a great education, and not be strapped with crippling student debt.
When I went to IU in the early 1980’s, I could pay the tuition and most of my room and board with a Pell Grant and state aid. Even getting near the maximum amount of student loans available, I came out owing only $8000 on a low interest loan.
How it is today
A kid going to IU today will come out owing closer to $80,000. Imagine coming out of college owing that much. It’s the cost of a starter home, but you don’t get a home. And unlike a home, the interest rate is high and it’s not spread out over 30 years. It is crippling for our young people, and often their parents who have to sacrifice their retirement savings so their kid can have a chance in this world.