Its the economy of higher education stupid! Student debt "now outpaces credit-card debt", approaching a trillion George Washingtons. The employment rate for young adults is at a 60 year low with public university students saddled with an average of $20K in debt and private university students carrying a whopping average of about $30K. These are averages for the statistically unenlightened. Imagine students at the upper reaches of the debt normal curve...maybe in excess of $100,000? What can we expect when this bubble bursts? Chain these students to low paying jobs where they are undervalued! Just like now.
STORY: S&P Warns Student Loans May Be The Next Bubble To Burst In US Economy