Glenn Reynolds | Not Worth the Debt: The Ugly Truth About Student Loans

Posted on May 31 2012 – 8:30 PM – Posted by: Doug Brady

I’ve been writing for years about a bubble in higher education: too much  demand, causing sky-high prices — all because of cheap government money, much  like the housing bubble. Now those warnings have become conventional wisdom — so  conventional that they’ve reached The New York Times and even 60 Minutes.

Pretty much everyone agrees that the increases in tuition (which have vastly  outpaced consumer prices and family incomes) and the growth in student-loan debt  (which now exceeds credit-card or auto-loan debt) are unsustainable. As  economist Herb Stein famously said, something that can’t go on forever, won’t.  So, how should we respond?

I’ve been writing for years about a bubble in higher education: too much  demand, causing sky-high prices — all because of cheap government money, much  like the housing bubble. Now those warnings have become conventional wisdom — so  conventional that they’ve reached The New York Times and even 60 Minutes.

Pretty much everyone agrees that the increases in tuition (which have vastly  outpaced consumer prices and family incomes) and the growth in student-loan debt  (which now exceeds credit-card or auto-loan debt) are unsustainable. As  economist Herb Stein famously said, something that can’t go on forever, won’t.  So, how should we respond?

More.

Article source: http://conservatives4palin.com/2012/05/glenn-reynolds-not-worth-the-debt-the-ugly-truth-about-student-loans.html