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Like the housing bubble, the education bubble is about security and insurance against the future. Both whisper a seductive promise into the ears of worried Americans: Do this and you will be safe. The excesses of both were always excused by a core national belief that no matter what happens in the world, these were the best investments you could make. Housing prices would always go up, and you will always make more money if you are college educated.
Originally posted by Skerrako
I believe this is very true, because it is the situation I am in. I am graduating this year and have many other friends that have graduated, and graduating and will graduate that have not found jobs. Maybe some good internships but for the most part we are "expirienced out" of the job market by baby-boomers and many others returing to the work force and delaying retirement. Thoughts?
It may pop, but unlike housing loans or credit card loans, student loans do not go away with bankruptcy so I don't know that the effect will be as severe.
So either there are no jobs really, or each of us is blaming the other group for competition in the market.
I hate ALL of the anti-education crowd. Passionately. With every fiber of my being.
Originally posted by SirMike
You cant honestly expect a degree whose maximum earning potential is around $50K (social sciences, communication, history, literature, etcetera) to be able to provide a graduate with the ability to pay $100K of student loans?