Look I know the guy’s a billionaire and what have you. He’s most certainly in the 1 percent, but he understands why a whole lot of people are going to have a very hard time moving up the economic ladder, let alone ever getting into his neighborhood.
At some point potential students will realize that they can’t flip their student loans for a job in 4 years. In fact they will realize that college may be the option for fun and entertainment, but not for education. Prices for traditional higher education will skyrocket so high over the next several years that potential students will start to make their way to non accredited institutions.
Of course there’s always the story of the guy or gal with the master’s degree driving a taxi. I’ve heard that one for years now, but from all the evidence we now have; we know that the jobs for college graduates aren’t there. We’re talking about a lost generation.
Higher education has become such a racket and it’s totally comparable to past economic bubbles. It’s rather easy to get a loan for school, but what happens if students begin to default on their debt en masse?
Higher education is not affordable in this country and it hasn’t been for decades.