Welcome to adulthood.

From Fox Business:

Students Need to Step-Up College Debt Responsibility

Over the past several days, I’ve spent a lot of time covering people with money gripes. Last Tuesday, I attended a rally here in New York for people calling for a $15 dollar an hour minimum wage, a virtual doubling of today’s federal minimum wage. And, then on Thursday, I went to Brooklyn, N.Y., to cover a rally for people calling for all student debt to be forgiven and all tuition done away with.

I’m not a fan of bailouts and it seems to me that’s what more and more people are asking for. Freebies. A get out of jail free card. In this column, though, I want to examine the idea of debt forgiveness and what it might mean when it comes to college debt and survey the alternatives.

Current student debt held by forty million Americans is $1.2 trillion dollars. And, the cost to the government of paying tuition each and every year for college students, according to the experts, would be between $70 billion and $80 billion. So, wiping away that debt would cost more than what we pay for Medicare or Medicaid or Social Security in any given year.