College Tuition, Student Loans, and Unemployment : The New Yorker - 0 views
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The protesters at Occupy Wall Street may not have put forth an explicit set of demands yet, but there is one thing that they all agree on: student debt is too damn high. Since the late nineteen-seventies, annual costs at four-year colleges have risen three times as fast as inflation, and, with savings rates dropping and state aid to colleges being cut, students have been forced to take on ever more debt in order to pay for school.
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f course, a college-education bubble wouldn’t look exactly like a typical asset bubble, because you can’t flip a college degree the way you can flip a stock, or even a home.
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This isn’t to say that eighteen-year-olds are perfectly rational economic actors. Most obviously, many of them borrow a lot of money and then don’t finish college, ending up debt-laden and without a degree.
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