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this sort of ties back to Savage's post from yesterday

by HumanRobot @, Cybertron, Thursday, February 27, 2014, 16:18 @ Geoff

But speaking to Student Loans at large, what are the ways in which this bubble can burst?

1) Graduates default on their student loans en masse. In the case of government loans (like Sallie Mae), the taxpayers foot the bill, right? In that case, the burden is either shouldered with increased taxes or bonds, I suppose. I guess that a mass default on private loans could bring the economy to a halt a la 2008, right?

2) On the other hand, the next generation of college students will give a more skeptical eye to higher education, right? That's already happening at law schools -- application numbers are plummeting. I know even schools like ND are struggling to come close to maintaining their profile. Like Savage suggests, I'm sure a lot of the lower tier schools might even shutter up.

3) Building on 2, the workforce is going to have to rely on workers with a lower education level, right? For 'high skill' jobs, like nursing, I guess you'll see a rise in trade schools.

Essentially, I think you're seeing a real existential threat to the American middle class looming.


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