In France, Student Debt Is Almost Unknown, but Mobility Lags

By Claire Lundberg. Are you a planner or a dreamer? Professionally speaking, which would you value more: job security or the freedom to change careers? And which of these would you find more stressful: taking a test or being in debt?
If you’re a planner, if you’re comfortable with compromise, and if you’re uncomfortable with debt, then the French system of higher education may be for you. But if you believe it’s never too late to start over, stick with American universities.
If you can afford them, that is. Rising tuition rates in the U.S. have outpaced inflation for the past 30 years. The average annual tuition cost at a private university in 2013 was $30,094, and $8,893 at public four-year institutions. Inflation-adjusted rates from 1971 are about a third of those costs: $10,515 and $2,456, respectively. As a result, seven in 10 college seniors in America now graduate with student loan debt, at an average that’s close to $30,000. More...