Thursday, January 04, 2007

Cost of Elder Care--Benefits of Education

I'm back from 2 months traveling in Thailand, Cambodia, Laos and India and I'll hopefully be writing soon about my experiences. Needless to say, terms like 'education' and 'opportunity' mean very different things to the much younger populations of those countries than they do here.
A pair of Page One stories in the New York Times the last 7 days illustrated two major Generation debt issues: health care and education.
"Elder Care Costs Deplete Savings of a Generation,"
is about many of our parents bankrupting themselves to care for our longer-lived grandparents. "“I have a panic attack at least once a day,'" says one grown daughter. "'It’s frightening to think about our generation and what’s going to happen to us.'”
Then again, "A Surprising Secret to a Long Life: Stay in School,"
suggested that extra education all by itself increases lifespan.
Yes, there's an irony here: we in GenDebt face living longer without the means to pay for it. Still, an important reminder that the debate about paying for higher education is about the public interest and quality of life, not just economic gains.

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