While the job market remains sluggish, student loan debt continues to rise, fueling fears that a higher-education spending bubble may be underway, the Huffington Post reports. Outstanding student debt has climbed 25 percent since the start of the financial crisis in 2008, according to the Federal Reserve Bank of New York–an increase from $440 billion then to $550 billion now. By contrast, every other major category of consumer debt, including mortgage debt, credit card debt, auto loans and home equity loans, is lower today than it was in the fall of 2008…
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Explore the full series of eCampus News podcasts hosted by Kevin Hogan—created to keep you on the cutting edge of innovations in education.
Airy Labs founder on ‘higher education bubble’ vs. real world
On the surface, Andrew Hsu is a curious fit among the inaugural class of Thiel Fellows, reports the Wall Street Journal. PayPal co-founder and early Facebook investor Peter Thiel’s “20 Under 20” fellowship program awards $100,000 to 20 people under 20 years of age who drop out of college to pursue science and technological innovation. The program officially launched in May and is the first assault in Thiel’s war against the “higher-education bubble” – a system he says stymies innovation and burdens youngsters with debt…
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