Vice President Joe Biden, when he addresses a happy throng of graduates from Cypress Bay High School in that fancy new baseball stadium on June 4, will be looking out at the unwitting perpetrators of the next great debt crisis. Biden, nice guy that he is, probably won’t open with, “Hello, you likely deadbeats.” Maybe he should. If grads from Cypress Bay High attend one of Florida’s universities this fall, their freshman year will coincide with a $300 million cut in state funding. Along with a 15 percent pop in tuition and diminished help from Bright Futures scholarships. They’ll be attending schools with fewer courses and larger classes, taught by professors disheartened by stagnant wages and benefit cuts, on campuses suffering from drastic cutbacks in maintenance budgets.At the bottom of the education food chain, the students respond by borrowing more money. Read more at:
http://www.miamiherald.com/2012/05/26/2818547/college-loans-are-next-debt-crisis.html
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