Monday, February 4, 2013

Student loans: The next housing bubble -

It's a problem of epidemic proportions. I've personally met people with middling credentials, poor job prospects and student loans exceeding $200,000.  Non-dischargeable.  They will be debt serfs for life barring a change in the law.  Our system is beyond broken - and the ripple effects of this have profound implications for parts of the economy and society well beyond those indebted. 

"The American system of higher education is increasingly becoming a fiscal disaster for ever-larger numbers of students who move through it.  That disaster is being caused by a combination of terrible incentives, institutional greed — and the pervasive myth that more education is the cure for economic inequality."

No comments: