Student Loans Back in the News

The latest legislation affecting student loan interest has been signed into law by President Obama in spite vocal disagreement from his protégé, Elizabeth Warren, and others. As someone who (dating myself) borrowed under the National Defense Education Act at a whopping 1 percent and paid $375 per semester for full-time tuition at a state university, it's really difficult to wrap my head around the cost of college today. Is there no solution to the skyrocketing costs?

Granted, the economy of yore was much different from what it is today, and there were semesters when I couldn't pull together the $375 and had to go to school part time or even not at all, just like students who can't afford the $5,000 to $15,000+ per semester price tags that are handed out today. But back then, a student who took a semester off could work at an odd job and save enough money to return the next semester on a pay-as-you-go system. I know, this falls into the same category of nostalgia as dress codes and dorm hours at school (hated both) and my 1968 Mustang convertible (loved it, of course). Each generation has its own sets of highs and lows. It just seems really sad that college, the place where you do most of your growing up, has to come with such a high price tag. And adding high interest rates (even though they're capped in this new legislation) makes it that much worse.





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Caleb Newquist is the Editor-in-Chief of Sift Media US, overseeing content for both AccountingWEB and Going Concern.

Prior to this role, Caleb served as the editor of Going Concern since its founding in 2009. During his time as editor, Going Concern quickly became one of the most popular and talked about websites in the accounting profession. He has been named one of Accounting Today's Top 100 Most Influential People every year since 2011 and has been published on numerous websites, including Above the Law, Deadspin, Denver Business Journal, and the Huffington Post.

Caleb is an adjunct professor of journalism the Community College of Denver in Denver, Colorado, where he teaches Internet Media.

Prior to falling bass ackwards into the media business, Caleb spent over five years working in public accounting, with more than three of those years at KPMG. Caleb received a Master of Science in Accounting from Colorado State University and a Bachelor of Science in Business Administration from the University of Nebraska at Kearney.

Caleb spends a lot of time on a bicycle and reading, but never at the same time.

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