Higher Education: Another Bubble about to Burst?

Musings from the Hinterland on the out of control cost of higher education and whether college is right for everybody:  “while all this government money in the form of grants and loans is lining the pockets of the school proprietors, the students discover that what they’ve bought is nothing more than snake oil because they can’t earn enough money to justify the debt they’ve got to repay. Of course, the dirty secret to this is that the debt is owed to the U.S. government who has paid off the original lender via its earlier guarantee and now is hounding the hapless student for repayment. This important for two reasons. First, that check the government wrote is paid out of our money. Second, it was the lackadaisical, profligate Education policies which started the ball and caused the whole mess in the first instance, much as the relaxation of home loan standards during the 1990s started the ball leading to the subprime mortgage crisis.”