Originally Posted by Austin
Its far worse than that. Check out this graph for higher education. Its a huge bubble waiting to burst.

http://blog.american.com/2011/07/chart-of-the-day-the-higher-education-bubble/

It's not a bubble. It's more of a pyramid scheme.

Sadly, it's also one of the few areas in the economy that is still "functioning" well because of massive federal credit origination.

I understand that debt ceiling increase legislation has sliced federal subsidized loans.

Law school is the worst for this. It's a major cash cow for the universities. I had $120,000 in debt (with basically a full year tuitionn scholarship). Graduated in 2000 so all I had to do was show I had a law degree and got a nice job handed to me.

The economy is quite different now.

Last edited by JonLaw; 08/02/11 06:28 PM.