“Some of the boom in student debt can be chalked up to demographics: in the past decade, the number of college-age Americans rose by more than three million and the proportion of eighteen-to-twenty-four-year-olds enrolled in college went from thirty-five per cent to forty-one per cent. Still, the piles of student loans are due largely to the fact that the cost of a college degree has been going up much faster than people’s incomes. And that has raised the spectre that we might be living through a “higher-education bubble,” in which Americans are irrationally borrowing money to spend more on college than it’s actually worth.”
Cost of a college degree rising faster than people’s incomes
To learn more about the best way to fund your child’s or grandchild’s education, and avoid student debt down the road, read 10 Ways to Fund a College Education – Without Giving Up Your Retirement.