presents
 

JOHN F. WASIK

The College Debt Crisis:
How to Restore the American Dream


According to Forbes Magazine, "Two-thirds, thatís right, two-thirds of students graduating from American colleges and universities are graduating with some level of debt.  How much?  According to The Institute for College Access and Success (TICAS) Project on Student Debt, the average borrower will graduate $26,600 in the red.  While weíve all heard the screaming headlines of graduates with crippling debt of $100,000 or more, this is the case for only about 1% of graduates.  That said, one in 10 graduates accumulate more than $40,000.

"Itís a negative sum game for both student-borrowers and the economy. According to the Consumer Financial Protection Bureau, student loan debt has reached a new milestone, crossing the $1.2 trillion mark ó $1 trillion of that in federal student loan debt.

"This pushes student loan debts to dizzying new heights, as they now account for the second highest form of consumer debt behind mortgages.  With the federal debt at $16.7 trillion, student loan debts measure at 6% of the overall national debt."

John Wasik, a lifetime Chicago-area resident, is the author of 14 books, including The Merchant of Power and The Cul-de-Sac Syndrome. He also pens the Forbes blog "Bamboozlement," writes an investment column for Reuters, and contributes to The New York Times. He's won 18 awards for his writing and speaks across the country on investment topics. He spoke to the Cigar Society last year about John Maynard Keynes.




The Lounge at Iwan Ries
Tuesday
, November 24, 2015
5:30-8:30pm

Cocktails at 5:30, presentation 6:00-6:30, 
followed by discussion and more cocktails.   

Reservations are required.



 

About the Cigar Society of Chicago

ONE OF THE OLDEST AND greatest traditions of the city clubs of Chicago is the discussion of intellectual, social, legal, artistic, historical, scientific, musical, theatrical, and philosophical issues in the company of educated, bright, and appropriately provocative individuals, all under the beneficent influence of substantial amounts of tobacco and spirits.  The Cigar Society of Chicago embraces this tradition and extends it with its Informal Smokers, University Series lectures, and Cigar Society Dinners, in which cigars, and from time to time pipes and cigarettes, appear as an important component of our version of the classical symposium.  To be included in the Cigar Society's mailing list, write to the secretary at curtis.tuckey@logicophilosophicus.org