The consequences to this nation's future as a global economic power are staggering. But the ongoing economic Decline has turned more families to pressure financial aid offices to extend more loans to cover rising tuition and other college costs. And the financial offices already are overwhelmed.
So you can see what is going to happen. Just when we need more scientists researching cures for cancer and AIDS, they won't be able to graduate from college. There are so many other scenarios like this one coming down.
If there is still money for another federal bailout, it should most certainly be aimed at families in need with children in college. That's a no-brainer. And this problem of children being forced out of completing their degrees has been around for many years with African-American families particularly at historic black colleges and universities.
It's this kind of truth that convinces many people of color that racism is alive and well in America.
And Tennessee's governor, facing up to a $600 million deficit in the current fiscal year, is going to raise tuition sharply on public school campuses.
Second, Sen. Barack Obama should talk more of his plan that allows for emergency withdrawls from 401k accounts without tax penalties. His proposal should include financing college for one's children as such an emergency. If he emphasizes this point in the last 19 days of the presidential election, he will win by a landslide.
To read the fine reporting by The Times, go to: http://www.nytimes.com/2008/10/17/business/17student.html?_r=1&hp&oref=slogin