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Yes, College Costs Are Insane, But the Cost of Not Going Is Rising, Too

Liz Dwyer

Cumulative student loan debt is now greater than credit card debt, and tuition costs just keep on skyrocketing, but according to the latest Pew research, the economic cost of not going to college is on the rise. Indeed, "when today’s young adults are compared with previous generations, the disparity in economic outcomes between college graduates and those with a high school diploma or less formal schooling has never been greater in the modern era."

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  • Tom Maybrier

    I find this whole situation distressing. What's going to happen in a few years when the US housing market is comprised primarily of buyers who already have $20k+ in debt?

    I'm worried we're setting ourselves up for another debt bubble.

    • Liz Dwyer

      We're almost certainly setting ourselves up for this. A one bedroom in my building has four recent grads living in it. Two share the bedroom, one sleeps in the bedroom, and the other sleeps in the dining room! Yesterday I drove by a construction site in a so-so neighborhood here in Los Angeles that was advertising one bedroom condos starting in the $700,000's. I found myself wondering, who exactly is affording this cos it's certainly not the average Angeleno, college degree or no.