On average, recipients of bachelor’s degrees in 2016 left school owing about $30,301, according to the most recent federal data. Parents on average incurred another $33,291 in debt. The site’s chief executive has said that GoFundMe wasn’t developed as a substitute for health insurance, and he regrets the necessity. “They should be solved by the government working properly.”The same dynamic is at work in higher education. Last year, Michael Bloomberg pledged $1.8 billion to Johns Hopkins to reduce the reliance of Hopkins students on borrowed money.

Source: New York Times May 21, 2019 00:12 UTC