College costs: What people say about the price of college

A generation hobbled by soaring college costs 

The New York Times reports: “As an 18-year-old, it sounded like a good fit to me, and the school really sold it,” said 23-year-old Kelsey Griffith, a marketing major at Ohio Northern University. “I knew a private school would cost a lot of money. But when I graduate, I’m going to owe like $900 a month. No one told me that.”

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Obamas paid off loans less than decade ago

ABC News reports: “Check this out, all right. I’m the president of the United States. We only finished paying off our student loans off about eight years ago. That wasn’t that long ago. And that wasn’t easy–especially because when we had Malia and Sasha, we’re supposed to be saving up for their college educations, and we’re still paying off our college educations,” President Barack Obama said in April 2012.

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High costs despite slowing tuition increases

The Columbus Dispatch reports: “Shame on us,” said E. Gordon Gee, former president of Ohio State University, who has also served as president of Vanderbilt University and Brown University. “I think we raised tuition because we could.”

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Orman calls student loans one of the most dangerous types of debt

CNBC reports: “It’s a real travesty what is going on in our country with student loans and our children,” said Suze Orman, a personal finance expert . “Students are paying more in interest on student loans than what they pay for a car or a mortgage, and those loans (auto and mortgages) can be discharged in bankruptcy,” Orman said.

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Need for private loans expected to rise

Forbes reports: “The cost of education continues to increase at a pace that exceeds income and savings growth and the availability of federal funds does not significantly increase, we expect more students and families to borrow privately.” — Sallie Mae annual report.

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Experts weigh in on hefty college price tag

The Wall Street Journal reports: “…we need to help students become savvy consumers who can weigh cost and benefit trade-offs and distinguish between prestige and net results,” said Bruce Nolop, former chief financial officer of Pitney Bowes Inc. and E*Trade Financial Corp.

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— Links compiled by Emily Nitcher

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