Such a crash would be a good thing for this country.
The end of cheap money and tuition decline will mean education will become focused on the practical needs of real people. Bubble money (Gov’t funding and debt) are the main drivers of political indoctrination on college campuses. Top research institutions and highly competitive schools with deep pockets will not go away.
Let’s hope it happens soon.
The exact same thing is true with the health care industry. The more the Federal government gets involved the more expensive and less effective it becomes.
It’s better to get it over with asap. The longer it can be put off, the greater the pain and adjustment that must be made.
RE: Such a crash would be a good thing for this country.
What about:
1) Graduates who have not paid off their loans?
2) The financial institutions who loaned them the money?
The National student loan debt is now $1.2 Trillion total.
According to the US Dept. of Education, The three-year cohort default rate rose from 13.4 percent for FY 2009 to 14.7 percent for FY 2010.
SEE HERE:
http://www.ed.gov/news/press-releases/default-rates-continue-rise-federal-student-loans
We are now heading towards the 16% default rate.
16% of 1.2 trillion is : $192 Billion !! ( Nearly $200 Billion ).
Are we going to spend another $200 Billion to rescue financial institutions?
Really, folks? Do you really think the democrat/communist controlled federal government of the United States is going to let their largest brainwashing machine, the democrat/communist controlled academia complex, go belly up?
Does the phrase “too big to fail” sound familiar?