October 19, 2011

HIGHER EDUCATION BUBBLE UPDATE: Student Loan Debt Hits Record Levels. “The amount of student loans taken out last year crossed the $100 billion mark for the first time and total loans outstanding will exceed $1 trillion for the first time this year. . . . Students are borrowing twice what they did a decade ago after adjusting for inflation, the College Board reports. Total outstanding debt has doubled in the past five years — a sharp contrast to consumers reducing what’s owed on home loans and credit cards.” Something that can’t go on forever, won’t. This can’t go on forever.

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