Tution Bubble

You may recall the housing bubble where the rise in cost of housing greatly outstripped the rise in the public's average income that is necessary to support the purchase of that asset? Pop! What do you think is going to happen here? In both cases the government was/is driving inflation of the underlying asset price via loan subsidies. In the case of housing, you can discharge your debt by allowing the lender to foreclose. What do you do with your education loans when you discover you are not generating the income to service the debt? If the recent election is any guide, you ask the gainfully employed taxpayers who didn't borrow irresponsibly to bail you out. This is now The American Way.