For many of today’s college students and recent graduates, obtaining a degree means taking on mortgage-like levels of debt without having the house (or much of a job!) to show for it. Like housing in 2005, the institution of college education is firmly in the throes of a bona-fide bubble that will end just as disastrously. College tuition costs are soaring and forcing our nation’s young to bear obscenely high levels of student loan debt, while a ballooning $1 trillion student loan bubble shares a strikingly scary resemblance to the toxic subprime mortgages of six years earlier (and are just as likely to be repaid). As more and more college presidents shamelessly bank $1 million per year and colleges build opulent mega-million dollar stadiums, their graduates struggle to find minimum wage jobs in the worst job market since the Great Depression. You know there’s a crisis when even young law school grads are forced to become topless dancers to support themselves and their crushing student loan bills!
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