USA Today ran a recent story about the great burden that college debt is on graduates. As an educator, I’ve watched the rise in the cost of higher education outpace inflation every year for the past 30 years. At what point should we recognize it as a bubble, maybe just as volatile as the real estate bubble of the previous decade?
The article quotes a recent graduate:
“When you take out a $35,000 loan at 10.7 percent interest, that’s crazy,” Bijas said, referring to one of her private loans. “But you can’t not take it because you have to finish school.”
Is this true? Do you really have to “finish school” at almost all costs?
How do you think the field of higher education will change over the next few years? Or will it? Should it?