Student Loans in the Last Century

 

CBC TV is running a short 1997 video from its online archives, looking at how three students felt about their student debt and prospects back then. The title is "Debt for Degrees."

Although this was 12 years ago, the economy was a little depressed then too, with jobs  getting harder to find.

It would be great if the CBC had a "Debt for Degrees 2" so we could see how things went later for those three students.

One had graduated with mega degrees and two had decided to drop out. None of them saw how their debt was going to pay off with a job.

So -- what happened?

Did the two who hadn't graduated end up hanging in? Going back to school later?

Did any of them get a job that paid bags of cash so they could wipe out those debts and buy a Prius? A Smart Car? A dented 1985 Honda?

Oh well, even as a one-off, Debt for Degrees gives you a step back in time. And that's interesting. 

Okay, it may be hard hearing people complain about a time when the average debt was $10,000 -- instead of nearly three times that. But the students featured here had bigger debts than that.

Another thing that jumps out in this video is that students back then had the option of including their student loans into a bankruptcy.

Well, to be fair, we have that now too -- it just takes longer before you qualify! 

Anyway, here's the url for this archive clip:

http://archives.cbc.ca/society/education/clips/16440/

 

© Jeannine Mitchell 2009-2012

 

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