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Old 11-13-2012, 10:27 AM   #45
217Bimmer
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Join Date: May 2008
Location: IL
Posts: 143
My Ride: 2001 BMW 330i
Quote:
Originally Posted by NFRs2000nyc View Post
Mark my words....the next bubble.
Quote:
Originally Posted by shwagon View Post
Been saying that for years...
Quote:
Originally Posted by kuksul08 View Post
Maybe Jenni should have picked a cheaper school...

Explain this bubble thing.
yes, i think this will definitely be the next bubble to burst. people seemed to have reined in credit card debt somewhat with the economic crises and perhaps changes in lending rules, but borrowing for college is out of control and it is debt that is not forgiven if you go backrupt.

I wouldn't necessarily blame the students. The schools are selling them the idea that they need the education and that they will improve their lives and find a good paying job, which isn't always the case.

On the other side are these lending companies who will loan to anyone. the schools need the money desperately, so they accept these students who take out big loans and the companies happily furnish them the loans and neither give a **** about the student's future earnings and debt. The schools have their money and the loan company has the kid locked in for life.

It's a broke and evil cycle. No one is trying to fix it and schools certainly don't want their cash cow to end.
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