But what I'm hearing from my friends is that they've spent 250K on a degree and their kids are lucky to be waiting tables.
Perhaps reality still has to catch up.
Joanna
----- Original Message ----- From: "Wojtek S" <wsoko52 at gmail.com> To: lbo-talk at lbo-talk.org Sent: Thursday, September 9, 2010 8:47:23 AM Subject: Re: [lbo-talk] education bubble
[WS:] An interesting comparison, indeed. However, it begs the question: "if higher education bubble is much bigger than housing bubble, why has not it burst yet as the housing bubble has? The default rate on student loans is going up, reaching 40% on the high end of the market http://chronicle.com/article/Many-More-Students-Are/66223/, so the bubble should have burst by now, no? If 40% of home loans defaulted, it would be a national catastrophe on a far greater scale than the "great recession."
Wojtek
On Thu, Sep 9, 2010 at 11:25 AM, <123hop at comcast.net> wrote:
> Interesting: chart showing education bubble compared to housing bubble.
>
> http://blog.american.com/?source=patrick.net&p=19189#logo-n-tagline
>
> Joanna
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