October 9, 2015

HIGHER EDUCATION BUBBLE UPDATE: College Debt Woes Point to Grim Future.

The problems detailed in this article are real and important, but there’s a big one that’s not mentioned: Sooner or later, interest rates will go up generally, and that’s likely to price some colleges out of the bond market completely.

This should remind us that America is locked into an educational model, that, like our health care system, rests on foundations that drive prices up faster than inflation year by year by year. Education is important to Americans, and we do what we can to keep up, but ultimately we need to figure out how to deliver the education we need at a price we can actually pay. Sadly, it remains the case that the people who know the system best are, for the most part, less interested in helping think through and implement creative reform than in perpetuating the privileges that come with their jobs in the current, outdated system.

If only someone had warned them.

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