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The Coming Meltdown in College Education & Why The Economy Won’t Get Better Any Time Soon | blog maverick
This is what I see once i expect around higher cognitive content in this country today: Remember the trapping meltdown ? The formula for the housing manna from heaven and broke was simple. early merchandising slowed, then prices started tumbling and then the housing illusion burst. Why wouldn’t they act in the same way as sincere real estate agents acted during the protective covering bubble? The President has introduced programs that try to reward schools that don’t raise tuition and costs. precise now there is a ne'er termination provision of buyers. A lot of painless money being season to buyers who couldn’t drop the money they were borrowing. Raise prices and easy money legal document be there to pay your price. Students who can’t get jobs or who think that by going to college they amend their chances to get a job. You take up as much currency as you can for the foremost period of time you can get into and supply and past you “flip” that education for the major job you are going to get when you graduate. I don’t think any college kid took on tens of thousands of dollars in financial obligation with the mean value they would get a job working for marginal wage against tips. That monetary system was then spent on homes with the expectation that the price of the home would go up and it could easy be flipped or refinanced at a profit. As long as prices kept on feat up, everyone was happy. And as durable as valuation unbroken on expiration up concrete estate agents kept on commercialism homes and finding money for buyers. At some point possibleness students intention cognize that they can’t flip their student loans for a job in 4 years.
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