College is hopelessly unaffordable. Only the very wealthy can manage to pay full freight at high-prestige private universities, and even less exalted institutions bleed their students dry. Sure, financial aid provides some help. But the bottom-line cost is still extraordinary, leaving many students and their families mired in debt.
Just this week, President Obama underscored the heavy burden of all this borrowing and called for additional college aid. “We are here today,” he said, “because we believe that in America, no hard-working young person should be priced out of a higher education.”