Student Loans: A Multi-Generational Financial Trap

When the United States began its experiment with federally backed student loans in the 1960s, no one predicted that, by the early 21st century, students would have run up over $1.8 trillion in debt and that many of them would be unable to repay what they owe. We were told over and over that college debt was good debt because of the huge increase in lifetime earnings that a degree was supposed to guarantee. The Tar Heel State has its own set of unique problems when it comes to student debt loads. North Carolina ranks among the top 10 states...