Originally Posted by
gerv
It would be interesting to have a comparison, but I suspect you are right.
Another factor though is that a bigger chunk of the population is cash strapped. Particularly young people.
This
Paul Krugman article points out the problem:
I completely agree. I graduated from a 2 year tech school, then a 4 year college and now I am taking another degree course online (at age 50+
). ALL were paid for in full, no student loans or credit cards. IIRC the average graduate is leaving school with something on the order of $25,000 in student loan debt, it is going to take a looooong time to pay that off with a minimum wage job or even a part time entry level job. I honestly think that the economy as we know it is in a retraction and still has a long way to go before things really get sorted out. I also made sure my two children got through college debt free, they went to state universities, but have a quality education and are doing what they are happy with. I don't think they would have had the same opportunities if they were carrying a student loan debt.
Aaron
