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I think we blew past the point of moral hazard when a degree became so expensive it required taking a loan. Education has become one of the major economic pred
by squozzer 10y ago
I think we blew past the point of moral hazard when a degree became so expensive it required taking a loan.
Education has become one of the major economic predators of western civilization.
- wjnc 10y agoSubstitute 'western civilization' for US/UK? In Europe there still are many countries with free or cheap higher education. Education as a consumption good funded by loans is tragic though. The most expensive consumption good in a lifetime ...
- squozzer 10y agoI might have gone a bit hyperbolic on that. And I always wanted to study at U. Göttingen.
- typetypetype 10y agoI would modify this to focus on degrees that don't directly lead to income streams that can support loan payoffs, but I agree with the overall sentiment.
- belovedeagle 10y agoYou've got cause and effect backward: degrees didn't start "requiring" loans because they became overpriced; they became overpriced because loans were available.