November 26, 2012
HIGHER EDUCATION BUBBLE UPDATE: The High Cost of Dropping Out: Millions Struggle With High College Debt and No Degree. “Meanwhile, the rising cost of college is forcing many students to work long hours, which has been shown to reduce the odds of completing a degree, and is leading others to quit school outright. Ever-higher debt burdens heighten the consequences for those who drop out, making it harder for them to borrow money to buy a house or a car or to go back to school later on. . . . Even successfully completing a college degree is no guarantee of a successful career, especially in today’s still-shaky economy. There were 1.9 million unemployed college graduates in October, according to the Labor Department, a third of them younger than 35. By one estimate, about half of young graduates are either unemployed or are working in jobs that don’t require a college degree.”
Who could have seen this coming?