Consolidating education loan
By Jesse Colombo For many of today’s college students and recent graduates, obtaining a degree means taking on mortgage-like levels of debt without having the house (or much of a job! Like housing in 2005, the institution of college education is firmly in the throes of a bona-fide bubble that will end just as disastrously.
As more and more college presidents shamelessly bank $1 million per year and colleges build opulent mega-million dollar stadiums, their graduates struggle to find minimum wage jobs in the worst job market since the Great Depression.
You know there’s a crisis when even young law school grads are forced to become topless dancers to support themselves and their crushing student loan bills!
It turns out that college costs have risen far more than housing even rose at its peak, with housing having risen 4x, while college tuition has soared by over 10x, far outpacing the rate of inflation.
(link has an excellent chart comparing the housing bubble vs.
Why should an Art History major be forced to pay the same tuition as a Chemical Engineering major?
This is clearly unfair, but what happens when 0,000 federally-insured loans are handed out like candy to students in all majors.It’s no surprise that today’s “Lost Generation” youth are giving up on the now nearly unattainable American Dream.At some point, young people may just start giving up on the dream of going to college as it has become financially risky and doesn’t provide the increase in living standards that it should, and used to, provide.As with the housing bubble, government subsidization of higher education has played a very significant role in the formation of the U. In addition, the excessive ease of obtaining federally-insured mortgage-size student loans, regardless of college major and expected salary, results in higher education institutions charging far higher tuition than would occur in a market-based student-lending system.Colleges attempt to charge their students as much as they can possibly pay through use of student loans.In a world where college football coaches can make over million per year, colleges are foisting the burden of soaring athletics department costs onto their students.