It'll be nice when...
The NYT finally goes tits up and ceases foisting this kind of nonsense on otherwise calm people.
The cliffs notes:
1) College student takes on ~$100,000 in student loans, so she can go to a "good school" and achieve a basket weaving degree with no real job prospects, and hence "has trouble" paying back the loans.
2) This is somehow the fault of Citibank for giving her the money.
The relevant blood-boiling excerpts:
Sallie Mae gets a pass here, in my view. A responsible grownup co-signed for its loans to the Munnas, and the company eventually cut them off.
But what was Citi thinking, handing over $40,000 to an undergraduate who had already amassed debt well into the five figures? This was, in effect, a “no doc” or at least a “low doc” subprime mortgage loan.
Her mother can’t help without selling her bed and breakfast, and then she’d have no home. She could take her daughter in, but there aren’t good ways for her to earn a living in Alexandria Bay, in upstate New York.
Cortney could move someplace cheaper than her current home city of San Francisco, but she worries about her job prospects, even with her N.Y.U. diploma.
She recently received a raise and now makes $22 an hour working for a photographer. It’s the highest salary she’s earned since graduating with an interdisciplinary degree in religious and women’s studies.