Research Blog #3: Privatization

Privatization has increased the cost of higher education, while the number of individuals attending college has risen faster than government aid can keep up. This causes student loans to be taken more often as a primary way to pay for college. However, many are not aware of the actual costs that will result in these loans. The workings of the loans that students take out are also a mystery for many, but not all. As stated on page 10 of, Delinquency: The Untold Story of Student Loan Borrowing, "The fact that some borrowers are able to avoid delinquency by using deferment, forbearance, or other repayment options indicates that the system is working for them. It seems likely that more borrowers could be using those tools." The sad truth of this is evident to me in my own ignorance, even in my 5th year of college, of my student loans in that, I was not aware of what exactly words like delinquency, deferment, forbearance, and default meant before beginning my research.