US Dep of Ed ad money spent to suck ME into student debt bubble

[swissaustrian]

Apparently google thinks that I`m a US student who is eligible for student loans.
(note: I`m already a phd and a Swiss citizen)

I just got this ad on a Swiss news website.

The ad links here:
http://studentaid.ed.gov/

That`s your taxdollars at work

 

[swissaustrian]

Here are a few charts that I posted on another forum, illustration the bubble in student debt:

It`s certainly about dependency, but it`s also about inflating prices for education:

The student debt bubble is popping as we speak:

This is a trillion dollar problem, ie approximately the size of subprime in 2006/07.
However, the US gov is basicly the sole creditor. The banking system should not be affected.

 

[pmbug]

Hope it's fully popped within the next 5 years or so - when my oldest is graduating high school.

 

[ancona]

We bought and paid for a pre-paid 4 year program for Little Ancona back in 1998. The first two years were $2,800 dollars and the second two were $5,750 dollars. The Florida pre-paid program has undergone a pretty radical paradigm shift in the past six or seven years as prices skyrocketed. Now, the "scholarships" as they are called are no longer fully transferable as they used to be, and if the designated child cannot use it, it can only be used by another child of the same parents. Get a divorce? Marry someone with kids? Too bad, because they are no longer eligible children. The program has been a boon to smart parents who saw the value in purchasing something this important a decade and a half before it will be needed. Had we not bought this "scholarship" when we did, it would cost me $55,000 dollars for the same four years. Now THAT'S inflation!

 

[pmbug]

Much like Detriot pensions, I suspect that program will crater under the weight of it's unworkable economics. I hope you get your inflation adjusted value out of it.