Word: problem
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Dates: during 1990-1999
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Although the problem seems still in its infancy at Harvard, administrators, consumer advocates and government officials say they are struggling to address the rising debt before it spirals ever more out of control...
However dire the predictions, higher education leaders, government officials and consumer advocacy groups have started to examine ways to help control the debt problem...
Over the 12 years she has worked in the financial aid office at Yale, for example, Glenn-Long says the majority of students she has seen with credit card debt have it as a result of what she calls "unnecessary" spending or borrowing. Although the scope of the problem is small, she says potential effects can be devastating...
...consider it a problem even if it's for only two percent of the population--the consequences are so dire," she says...
Back at Harvard, DeGreeff says that the problem is not especially pronounced, but it is nonetheless a big issue for first-year students who are new to the financial independence...