- Moderator
- #61
The problem with keeping these rates low is that they are fueling a bubble, just like low mortgage rates fueled the housing bubble. Eventually we're going to have the same result. It's going to burst because the amount of student debt has already reached the point where it's too much for the consumer to handle. Historic levels of student loan default have already been reached and they are increasing and the government is directly responsible. Universities continue to charge more and more for an education that many are now arguing is no longer worth the cost and they can do it because the government keeps giving students more and more access to money through the student loan program at cheap rates.
You'd think we'd have learned our lesson, but I guess not.
You'd think we'd have learned our lesson, but I guess not.