Reason TV Best of 2014: Higher Education Bubble Will Only Get Bigger Next Year

One trend that is unlikely to reverse course in the new year is the high cost of a college education. As more colleges announce tuition rate hikes for the coming academic year, total student loan debt is now estimated to be $1.2 trillion and growing. These massive spikes in college costs are leaving many millennials with crippling debt as they enter an unstable job market. Blogger and author Glenn Reynolds talks to Reason TV about the looming burst of the higher education bubble and how young adults are becoming wiser when it comes to student loan debt. 

Comments

[Caleb Turberville]

Well, I don't think students should major an anything without a clear understanding of what they intend to do when they graduate. But I'm a little skeptical that student loan debt is "crushing" at the individual level.

If you want a job bad enough, you'll find one. If you manage your budget well enough, you can handle your debt.

[Caleb Turberville]

You're not even supposed to have a "life" until you're at least 40.

[Agile Cyborg]

Life at 40 can be excellent but so can life at 30 and 20. Where did you get this data?

[Caleb Turberville]

I'm not saying that life at 30 and 20 can't be great. But some people act like they should be settled at 30. Most people I've known are only getting started at 30.

I think you really have to be on top of it if you want to be successful at 20.

[Caleb Turberville]

I think Bill Gates earned his first billion at age 30. But not everyone is like Bill Gates.

[Agile Cyborg]

Caleb, life is a fucking gangsta fight until the death for most. But, most should allowed the right to enjoy the trip in spite of the pioneering and hard work and nose bleeds and sore muscles and tired brains and shit outta luck.

Life can be good in this coming new year. Life is an adventure in spite of the bullets flying the fuck around. Life is about standing up and claiming the today and not being whipped.

Fuck Bill Gates. He got supra-lucky which is about as abnormal as Jesus fucking his hot male buddy.

[Caleb Turberville]

Did you grow up on da street?

[Agile Cyborg]

Yes I did, dear.

[buybuydandavis]

You, you said, what'd you say just a minute ago? They had to wait and save their money before they even ought to think of a decent home. Wait! Wait for what? Until their children grow up and leave them? Until they're so old and broken-down that they....do you know how long it takes a working man to save five thousand dollars? Just remember this, Mr. Potter, that this rabble you're talking about...they do most of the working and paying and living and dying in this community. Well, is it too much to have them work and pay and live and die in a couple of decent rooms and a bath? Anyway, my father didn't think so. People were human beings to him, but to you, a warped, frustrated old man, they're cattle. Well, in my book he died a much richer man than you'll ever be!

- George Bailey

[Warrren]

These guys claim to be fully accredited and a four-year degree will cost just a little more than 4K.

http://uopeople.edu/

[See Double You]

I'm set to graduate from law school with about $60,000 in student loan debt, and I'm in one of the best job markets for lawyers in the country.

I feel sorry for those schmucks who will graduate with $300,000 in undergraduate debt just to earn a sociology degree.

[Caleb Turberville]

Are there actual people with $300,000 in student loan debt.

My medical students I know graduate with about $200,000 total. If you're graduating with more than $100,000 in anything, you best know what you plan to do after college.

[Caleb Turberville]

"Most medical students I know."

[See Double You]

IIRC, Barbara Boxer, at a House hearing on this subject, claimed that one of her constituents had that much debt for some kind of liberal arts degree.

[Caleb Turberville]

Well, like I say. Start job hunting, rent a cheap-ass apartment, and put off the extravagances of life. If you work your way up the ladder, pay increases will start to make life a little easier.

[Agile Cyborg]

Too many young suburban cash nozzles, brah. Not even messing with the hood- fuckin poor ass folk are chalked up outside a minuscule percentage. The American 'dream' is a fucking tale with slivers of truth. Dudes'n Babe's come outta the 'burbs raised on the tubes and interwebs where aspiration is all the rage in the today.

Capitalism is hard. It is like pioneering. You can lose all your shit on the way to gaining more. And then lose again and again and then hit the sweet spot. Takes inertia and hard time on the capitalist dime.

Fuck the silver spoons and trust funds and 40 years at GM. GM died and American paid for it to survive. No knowledge in that. The street is America and your demographic demands your soul. Find that demographic and give it your love.

[mr lizard]

Don't forget your etheral anchor tonight

[Agile Cyborg]

Mr Lizard is a coupon right into fucking swamp hell where these fukin gator fuckin spin your fuckin head off yo bod, boyo... you jest need to watch this nigga mr lizard

[buybuydandavis]

On the wall above the toilet paper dispenser at a bathroom in college:

Liberal Arts Majors - take one.
Master of Fine Arts - take two.

[Agile Cyborg]

I read where bbdandavis likes to lick reason rectums.. . somwhere in middle ohio... gamer fuck with a hot fuckin wife but he liks to lick sweaty rectums.

[Almanian!]

The important thing is "Twilight Zone" marathon on SciFi (I hate "SyFy" moniker). Best part of New Years!

[Caleb Turberville]

Hopefully, the marathon ends with Twilight Zone - The Movie with the original ending for the Vic Morrow section.

[Warrren]

I think that got chopped.

[Almanian!]

-1 head

[Warrren]

Looking like a fool with your parts on the ground.

[Agile Cyborg]

Twi Zo shoulda ended with an alien orgy. Epic failisimo in that regard.

[Pl?ya Manhattan.]

There's gotta be a way to make quick money on this. Who wants to start an online college with me?

[Warrren]

An online party school?

[Pl?ya Manhattan.]

There will be a sex chat feature, yes.

[Agile Cyborg]

Wild Turkey Uni. 12 shots per degree. No reason to get educated unless you get toasted whores.

[Almanian!]

GOBBLE GOBBLE GOBBLE!!!

[Pl?ya Manhattan.]

That is an education.

[Agile Cyborg]

You'd fail, whore. No fukin way your nondrinkin ass could handle fuckin 12 shots. you'd die, sadly, o course... much of your brain flow typed is well...hmmm......cute, somewhat funny, occasionally brilliant but mostly lame like my crap.

[Derpetologist]

For those in need of an emetic: Young Democrats cheer Barney Frank in 2010

https://www.youtube.com/watch?v=cKCawa3pgXA

Rep. Barney Frank (D-MA): "You can reach out to your fellow young people and make it clear to them, that when [sic] they may not be satisfied with everything we've done -- we're not satisfied with everything we've done. The way to cure that is to give us more authority and more ability."

[Derpetologist]

For more Barney fun, watch him squirm after being asked how much responsibility he has for the mortgage meltdown:

https://www.youtube.com/watch?v=uGmJLa2kd58

[BoscoH]

For anyone who watched until the end... Memorandum from the Devil (not a Rolling Stones song)

http://digitalcommons.law.yale.....fss_papers

[SQRLSY One]

BoscoH... THANK YOU!!! Thanks for a MOST excellent link... I read the whole thing... Skimmed very little... And I LOVED it!!! Back in 1977, academicians still had a sense of humor to go along with their egg-headedness... Something sadly lacking today. The conclusion of "the Devil" in his letter, there, I have to most strongly agree with.. Again, Thanks!!!

[JeremyR]

As long as there are entities willing to make loans to students, colleges will keep raising their prices.

It's like a vacuum - it will suck up all the money there is. If there's a lot (and there is, thanks to the loans), then they will grab it all.

[daniellebegum]

$89 an hour! Seriously I don't know why more people haven't tried this, I work two shifts, 2 hours in the day and 2 in the evening?And i get surly a chek of $1260......0 whats awesome is Im working from home so I get more time with my kids.
Here is what i did
?????? http://www.jobsfish.com

[userve32]

Slap Diddy is not going to like that.

http://www.Way-Anon.tk