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Old 02-01-2013, 11:57 AM   #27
Amnorix Amnorix is offline
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Join Date: May 2003
Location: Boston, Mass.
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This isn't about a bubble bursting, this is about an economic model (colleges) that isn't sustainable in the long run. There is a highly dysfunctional system involving kids with too much debt, the federal government taking on too much risk, and colleges that think that 8% increases in tuition fees EVERY YEAR is perfectly reasonable regardless of what the economy is doing.

Combine that with EVERY middle and upper income family thinking that a college degree is ABSOLUTELY required, and you have a recipe for disaster, probably at taxpayer's expense ultimately.

We need to wean our society off the notion that EVERYONE should get a college degree, and EVERYONE should own a house, and the taxpayer should underwrite all of it. All we do is screw up the economics around those sectors and then have the inevitable breakdown down the road.
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