Student Loans: The New Big Bubble
Bob Samuels,
Huffington Post,
Feb 25, 2010
As funding is cut and tuition fees rise dramatically, the crisis in education approaches. The end won't be pretty. "The free market is really a giant Ponzi scheme where companies hold down workers wages so that the employees are forced to live on debt, and then this debt is bought and sold on a global market... All over the country, tuition is going up, and students are turning to public and private loans in order to finance the cost of their education. Not only does this mean that many students will graduate with huge debts that will take them years to pay off, but the student demand for credit is resulting in a huge gold rush for banks and other private corporations."
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