Transcript Audio College student loan debt in the U.
Remember the housing meltdown? The formula for the housing boom and bust was simple. That money was then spent on homes with the expectation that the price of the home would go up and it could easily be flipped or refinanced at a profit.
As long as prices kept on going up, everyone was happy.
And prices kept on going up. And as long as pricing kept on going up real estate agents kept on selling homes and finding money for buyers.
Until the easy money stopped. First sales slowed, then prices started falling and then the housing bubble burst. We know the rest of the story. We are still mired in the consequences.
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Can someone please explain to me how what is happening in higher education is any different? Its far too easy to borrow money for college. Did you know that there is more outstanding debt for student loans than there is for Auto Loans or Credit Card loans?
The 37mm holders of student loans have more debt than the mm or so credit card owners in this country and more than the all of the debt on cars in this country. While the average student loan debt is about 23k.
We freak out about the Trillions of dollars in debt our country faces. The point of the numbers is that getting a student loan is easy. You know who knows that the money is easy better than anyone?
The schools that are taking that student loan money in tuition.
Which is exactly why they have no problems raising costs for tuition each and every year. Raise prices and easy money will be there to pay your price.
Right now there is a never ending supply of buyers. Its the collegiate equivalent of flipping houses. In fact they will realize that college may be the option for fun and entertainment, but not for education.People who argue that college is not worth it contend that the debt from college loans is too high and delays graduates from saving for retirement, buying a house, or getting married.
College graduates make more money. The average college graduate makes $, more than the average high school graduate over a lifetime. Is a College Degree Still Worth It?
More the time it takes to pay back the money laid out for a degree is growing, causing many to question the efficacy of attending college.
Comments on Daawo: Halkan ka Daawada culimo Saluug Ka Muujiyey Xukuumadda Siilaanyo. Sep 04, · College, in most cases, is not worth its inflated cost any more, but that's not to say today's young adults should abandon the higher education system completely.
Is it still worth the money, effort, and time? Cost of a College Education According to The College Board, the average cost of an academic year in an in-state public college in .
A highlight of the Great Recession was the flight of the unemployed to the far-flung precincts of higher ed. Many of those people left school for the job market in recent years, but higher ed.