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By W.C. Varones (Reporter)
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Greenspan's Body Count goes to college: Jason Yoder

Tuesday, July 3, 2012 1:20

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When we think about Greenspan’s Body Count, we usually think of homedebtors and real estate speculators.

But many of the unsung victims of Alan Greenspan’s bubbles are education speculators instead. And they are largely young and naive:

One evening in 2007, Jan Yoder of Normal, Illinois noticed that her son Jason seemed more despondent than usual. Yoder had been a graduate student in organic chemistry at Illinois State University but after incurring $100,000 in student loan debt, he struggled to find a job in his field. Later that night, Jason, 35, left the family’s mobile home. Concerned about her son’s mood, Jan Yoder decided in the early morning hours to go look for him on campus, where a professor she ran into joined her in the search. The two of them discovered his body in one of the labs on campus and called campus police at 8:30AM. 32 minutes later, Jason was declared dead due to nitrogen asphyxiation.

Student loan debt is far more deadly than housing, consumer, or business debt because you can’t go bankrupt on it. It will haunt you until your dying day. If you must use debt to pay for education, put it on your credit cards so you can go bankrupt immediately after graduation.

Greenspan’s Body Count stands at 225.

Read more at W.C. Varones

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