A billionaire technology investor stunned the entire graduating class at Morehouse College when he announced at their commencement Sunday that he would pay off their student loans ---- estimated at up to US$40 million.
Many of this year's new post-secondary graduates have left the academic world carrying tens of thousands of dollars in debt. Meantime, those heading to college and university this fall will soon contend with steep tuition rates that often result in a similar burden.
Although universities are attempting to lessen the load of steep tuition rates by offering financial aid, average student debt appears to be climbing. So some institutions are also responding by beefing up their mental health services to help students cope.
As the cost of tuition and rent rises, so does the apparent popularity of so-called "sugar daddy" sites among students. But are they really providing financial relief, or signing women up for something more exploitative and dangerous than debt?
Hundreds of thousands of university and college students walking onto campuses this week with help from federal loans could find themselves targeted harder than ever to repay billions of dollars in loans and grants.