Scenes from the College Bubble

This video is rude in places (it beeps or blurs out the worst stuff), but it is spot on. The most eye-opening part of the video to me were the bowling alleys, Jacuzzis, and other luxury items that were on display from real college campuses. The extravagant pools really looked like something from a theme park. Since I wrote about the college bubble yesterday, I should mention that this is further proof of it. Remember the housing bubble that crashed in 2007: That didn’t just mean that Read more […]

Fewer College Graduates “Strongly Agree” Their Education was Worth What They Paid

According to a new Gallup poll, recent college graduates are showing another sign of the end of the tuition bubble. For now, nothing is likely to happen since a majority of students still agree that their college degree was worth the cost. But those who graduated since 2006 are far less likely to “strongly agree” that their education was worth it. Gallup tells us, Amid recent controversy over rising tuition and mounting student debt totals, half of college graduates in the U.S. Read more […]

Pell Grants: Billions for Schools, but No Graduating Students

Pell Grants were designed in a way to leave us in the dark about whether the money was being spent wisely. I recently posted about how student welfare for graduate students—welfare in the form of loans that no one is going to repay other than the taxpayer—is really a form of corporate welfare for Universities. But here is a much bigger example of how the government has been scamming us for years and is only just now being exposed. NBC News reports, “Pell Grants: Billions Go to Students Who Read more […]

Student Welfare for Post Graduates and Universities

Here’s another boondoggle brought to you by our government: post graduate student welfare as loan forgiveness. Basically, public debt and/or taxpayers are being used to provide people going into professional and profitable careers a massive subsidy. Perhaps more importantly, the government sustains the college tuition bubble a bit longer by providing this subsidy. When you hear candidates try to come up with a way to give out free community college, you might get the impression that we are Read more […]

Why Is Student Debt Exempt from Bankruptcy?

Megan McArdle suggests that allowing student debt to be discharged in bankruptcy along with all other debt would be a good idea if done right. I realize there are arguments that we should not even allow bankruptcy. It seems to be a way of getting away with not paying the people to whom you owe money. The only reasonable answer to that accusation is that, if people can’t pay back a loan, then we should acknowledge that they never will repay a loan. Bankruptcy can be abused, but it is a Read more […]