Phi Beta Cons

Average Student Debt Increases

College graduates in 2009 had an average of $24,000 in student-loan debt, up 6 percent from 2008, according to the New York Times. I graduated in 2009, and, thanks to the substantial financial aid I received, I finished well below average in the debt category. Still, I owe far more than I’d like to. Overall, student-debt levels upon graduation continue to increase at a rate that outpaces inflation.

The Times piece points out how average debt levels differ across geographical regions — higher in the Northeast, lower out west — and how high unemployment is exacerbating the problem:

Paying back student loans is likely to be especially difficult for recent graduates, the report said, because the unemployment rate for college graduates ages 20 to 24 was 8.7 percent in 2009 — the highest annual rate on record and a substantial rise from 5.8 percent in 2008.

Most Popular

History

The 1620 Project

On November 11, 1620, the Mayflower arrived on the eastern coast of North America. She had weathered the slings and arrows of maritime misfortune for almost ten weeks at that point, but the passengers thought the discomfort of crossing a small price to pay for passage to the Promised Land. After all, these were ... Read More
History

The 1620 Project

On November 11, 1620, the Mayflower arrived on the eastern coast of North America. She had weathered the slings and arrows of maritime misfortune for almost ten weeks at that point, but the passengers thought the discomfort of crossing a small price to pay for passage to the Promised Land. After all, these were ... Read More
White House

Implications of the Flynn Pardon

President Trump granted a pardon to Michael Flynn, his former national-security adviser, today. Flynn had pled guilty to lying to FBI agents about conversations, during the 2016 transition, with the Russian ambassador about sanctions. Flynn’s pardon should bring to an end one gross violation of the ... Read More
White House

Implications of the Flynn Pardon

President Trump granted a pardon to Michael Flynn, his former national-security adviser, today. Flynn had pled guilty to lying to FBI agents about conversations, during the 2016 transition, with the Russian ambassador about sanctions. Flynn’s pardon should bring to an end one gross violation of the ... Read More
History

Thanksgiving Is Not a Lie

We live in a time of heedless iconoclasm, and so one of the country’s oldest traditions is under assault. Thanksgiving is increasingly portrayed as, at best, based on falsehoods and, at worst, a whitewash of genocide against Native Americans. The New York Times ran a piece the other day titled, “The ... Read More
History

Thanksgiving Is Not a Lie

We live in a time of heedless iconoclasm, and so one of the country’s oldest traditions is under assault. Thanksgiving is increasingly portrayed as, at best, based on falsehoods and, at worst, a whitewash of genocide against Native Americans. The New York Times ran a piece the other day titled, “The ... Read More
Culture

On Being Grateful

My mother always enjoyed making Thanksgiving dinner. She took a traditional Southern woman’s pride in being a good cook, following her mother’s recipes, and my family made a rare display of kindness by declining to inform her that she was a fairly dreadful cook, one whose kitchen alchemy on the electric range ... Read More
Culture

On Being Grateful

My mother always enjoyed making Thanksgiving dinner. She took a traditional Southern woman’s pride in being a good cook, following her mother’s recipes, and my family made a rare display of kindness by declining to inform her that she was a fairly dreadful cook, one whose kitchen alchemy on the electric range ... Read More
U.S.

Gratitude: What We Owe to Our Country

Editor’s Note: The following essay by National Review founder William F. Buckley comes from the first chapter of his 1990 book, Gratitude: Reflections on What We Owe to Our Country. I have always thought Anatole France’s story of the juggler to be one of enduring moral resonance. This is the arresting and ... Read More
U.S.

Gratitude: What We Owe to Our Country

Editor’s Note: The following essay by National Review founder William F. Buckley comes from the first chapter of his 1990 book, Gratitude: Reflections on What We Owe to Our Country. I have always thought Anatole France’s story of the juggler to be one of enduring moral resonance. This is the arresting and ... Read More