Money Matters!

From the June 15th Chronicle of Higher Education:

An effort by a major university to replace loans with grants in its financial aid to low-income students has led more of its graduates to choose public-service careers, a study has found.

The study, supported by the private National Bureau of Economic Research, concluded that an additional $10,000 in student debt reduces the likelihood that a graduate will take a job in a nonprofit organization, government, or an education field by five to six percentage points.

If I’d financed $50,000 worth of college education, it certainly wouldn’t be to go into a career that starts at $30,000 a year. This is one of the few areas where it can be truly said Eastern > Gonzaga.