According to one economics expert, a variety of factors make California a high-debt state, including expensive student housing. 'A big portion of the student debt goes towards things like room and board,' said Derek Stimel, associate economics professor at University of California, Davis. 'Whether they're living on campus or off campus, frankly, it doesn't really make too much difference.' He noted that students struggle to find affordable housing due to the high demand for places to live.
Stimel explained that California's high cost of living significantly affects student loans, highlighting that 'If there's no money from the parents to basically pay for college, the student has no choice but to basically take out these loans.' He also pointed out that state initiatives to increase higher education attendance contribute to this debt crisis.
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