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Cost of university education has risen much faster than inflation for decades primarily due to easily obtained loans and increasing bureaucratic overhead. At t
by JohnTHaller 9y ago
Cost of university education has risen much faster than inflation for decades primarily due to easily obtained loans and increasing bureaucratic overhead. At the same time, the job prospects for many degree-holders have decreased. Additionally, student loans are for life and can not be cancelled by filing bankruptcy now. The 20 year thing mentioned by the above comment only applies to very specific government jobs.
So education is more expensive, student loans are more expensive, student loans can't be cancelled, and job prospects and real income are worse.
- learc83 9y ago>The 20 year thing mentioned by the above comment only applies to very specific government jobs. No you are completely incorrect. For public sector jobs the loan forgiveness happens after 10 years. Under the income based repayment plan anyone who makes payments for 20 years will have the remainder cancelled. https://studentaid.ed.gov/sa/repay-loans/understand/plans/income-driven https://studentaid.ed.gov/sa/repay-loans/understand/plans/in...