[goggles99]

There is really three simple reasons that we have this 'problem' today.

1. People who cannot afford it are choosing very expensive universities.

2. The government is giving money away like candy, there is a definite bubble here because this money will be defaulted on. I know a professor at an art school who says his students easily get $150k to go study art. Many won't even get a degree with that money. Getting a degree or being on a path to get a degree in x years is not a requirement of getting the money. He says that these students will graduate and be lucky to go on to make $25-30k a year. That is pretty rough. This also drives tuition way up because schools know they can just charge more and the thanks to the govt. students and money will still funnel in by the truckload.

3. Students with student loan money live like rock stars. These are teenagers here. They suddenly have a bunch of money. do you thing that they are carefully considering that every dollar they spend will have to be paid back with interest? Teenagers... I have seen this over and over again personally. Luxury apartments, nice cars, buying, spending... "A part time job? are you kidding? who has time for that, I've got to focus on my party life.. Errrr studies".