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Review of 'Is College Worth It?'
- incomingpain 3y ago>Both Democrats and Republicans cite high tuition as a major reason for criticizing higher education. https://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_and_Consumer_Protection_Act https://en.wikipedia.org/wiki/Bankruptcy_Abuse_Prevention_an... >BAPCPA amended § 523(a)(8) to broaden the types of educational ("student") loans that cannot be discharged in bankruptcy absent proof of "undue hardship." The nature of the lender is no longer relevant. Thus, even loans from "for-profit" or "non-governmental" entities are not dischargeable. Basically what happened in 2005, you can no longer bankrupt this debt easily and tuition started increasing at about 600% of inflation since. https://usafacts.org/articles/college-tuition-has-increased-but-whats-the-actual-cost/ https://usafacts.org/articles/college-tuition-has-increased-... It's also interesting WHY. Why even decide to make any change? Post nixon shock https://en.wikipedia.org/wiki/Nixon_shock https://en.wikipedia.org/wiki/Nixon_shock The wealth of the USA is equal to debt. There's 3 key spots for debt to be created. Mortgages, Automobiles, and Tuition. Banks are behind all of this. The problem is that tuition is much smaller relatively speaking. This is why housing is such a big deal, why the big 3 auto makers and banks get their bailouts. And now tuition becomes ultra safe to hold in fear of default. >Is college worth it? Tuition has to plateau at some point. It cant keep increasing at 600% of inflation forever. There will be a crossover point where tuition costs too much and non-education professions pay better. That's basically now.
- thfuran 3y agoI think we're way past that point for many degrees at many institutions.