The college loan bubble is the next bubble that needs to burst, just like the sub-prime mortgage loan bubble did 8 years ago when the financial industry collapsed.
The federal government should get out of the student loan business altogether, and colleges should be forced to compete in a true free market. The reason why college tuition is so expensive these says is because colleges can charge whatever they want since A: the government will give loans to literally anybody, whether they can afford the paymets or not, and B: most industries with well paying jobs won't even look at hiring you if you don't have at least a bullshit (BS) college degree.
Gone are the days when people could simply work as a tradesman / apprenticeship right after high school for a few years and eventually work their way up the ladder to a higher position & salary. Generations before us did it that exact way with no college education and were able to become successful and were able to raise a family on a single income as well, with hardly any debt. Now kids are forced to take on tens of thousands of dollars of debt before they're even legally able to drink and gamble, and then spend the next decade of their lives trying to dig out from that hole they were forced into when they were still in their teens.
On 2/24/13, MB1025 said:
You know I was always wondering why no one ever used the dollar sign for $ony, but then I realized they have no money so it would be pointless.
