“Education is a bubble in a classic sense. To call something a bubble, it must be overpriced and there must be an intense belief in it. Housing was a classic bubble, as were tech stocks in the ’90s, because they were both very overvalued, but there was an incredibly widespread belief that almost could not be questioned – you had to own a house in 2005, and you had to be in an equity-market index fund in 1999.” ~ Peter Thiel on higher education for NRO.
Student debt in the United States has already surpassed the country’s auto loans and consumer credit card debt. A student loan bubble looms on America’s horizon, and promises dark times should it ever burst.
And earlier this month, the student loan problem worsened.
Anyone wondering how to get out of student loan debt – or wondering if a slew of student debtors could try to do so – needs to read this.
Accepted wisdom says that there are only two (rather sobering) ways to relieve the burden of student debt: either pay it off, or depart from this earthly world.
This is a syndicated repost published with the permission of Money Morning. To view original, click here. Opinions herein are not those of the Wall Street…
