This article is not, in my opinion, from a reputable source...but the information contained within reflects what I have been saying for close to three years: The student loan bubble is about to burst, with rippling consequences for the entire education system, and the financial system as a whole. A bachelors degree is now equivalent to our parents generation high school diploma. Without the Bachelors, though, it is impossible to get any sort of job that might provide the opportunity for independent living (notice I did not say WILL provide, nor did I say anything about SECURE living...because no current college grad with $70,000+ debt will afford secure living). The debt amounts students are graduating with is laughably exorbitant, thanks to Sallie Mae wringing every last drop of income from us, and it CANNOT continue, simply because we are NEVER going to be able to pay back our astronomic debt. I hope, when this bubble does explode, that the higher education system will become something the US takes pride in, and that a college degree will put students into a SECURE AND STABLE financial situation, instead of a situation guaranteeing our poverty. Maggie Powell Richard Powell Kaitlin Harvey dcclothesline/2014/12/28/billionaire-mark-cuban-warns-massive-crash-will-wipe-americas-colleges-youre-going-see-repeat-saw-housing-market/
Posted on: Mon, 29 Dec 2014 18:55:19 +0000