The End of College For All
The housing bubble burst after millions of people who couldn't afford homes were given loans to help them buy homes at deceivingly low interest rates. Ever ask yourself how students, strapped with enormous debt from outer-worldly tuition rates, will pay back their loans with such a bleak job economy? Peter Thiel, founder of Paypal and renowned venture capitalist, has even opened a fund to pay 20 students $100,000 each to "drop out" of college and work instead. Thiel predicts the education debt bubble will result in only the rich being able to afford college.