Student loans are apparently a political issue these days. Democrats want more and more lending, with subsidized interest rates, while Republicans want interest rates to be more of a market issue and less of a government one. Neither party appears to have the gonads to tell the world that college costs have nothing to do with interest rates. College costs are, in point of fact, absolute bullshit.
A four year degree might put you at the front of the line for a menial job, but that's about it. Millions of people, including your humble blogger, are presently pursuing degrees that are unlikely to provide any return on investment. In my case, it really is a long story and I don't care to tell it right now. In the case of most students though, the myth of a valuable college education seems to prevail. So
I had to shop around for the best value, given that I'm not wealthy and I actually have some small hope of making this whole process worthwhile. I found Arizona State University to be more affordable than the schools here in Michigan, so I became a Sun Devil. For most teenagers heading off to school for the first time though, price is the last thing on their minds. As long as ole Sallie Mae will cover the cost, who gives a shit? Go wherever your loans and test scores will let you go. It's the same mindset that led to the mortgage crisis a few years ago.
The net result is that college in 2013, much like real estate in 2007, is ridiculously overvalued. There's a crash and burn on the horizon, and we have nobody but ourselves to blame. And this brings me to my point. I could take you though the facets of college tuition inflation step by step, but I really don't want to. I am bored with life and even more bored with blogging, so instead I'll point you to an excellent article by Matt Taibbi of Rolling Stone. Yeah, I know, Rolling Stone. That hacktastic rag did apparently publish the following piece though, so credit where credit is due. I see an honest and detailed article like this about once every two or three years.