Jun 8 2010
Student loan market created a tuition bubble rivaling the housing bubble. When banks and government subsidize markets the average American gets an education in debt serfdom. For profit schools dominate the Pell Grant market.
Recently a handful of articles have discussed the rise of subprime debt in higher education. Broadly speaking a college educated American has lower unemployment, higher earnings, and a better potential for financial success. Like the housing market, the emotional notion that everyone should own a home allowed the predatory banking industry with government support to [...]