The college student debt bubble
Many students believe some majors (or degree programs) aren’t worth the debt
by Amy McCullough
Published: November 20,2011
Etta Spencer learned the hard way that all college degrees aren’t created equal.
The Madison resident borrowed $28,000 and earned a bachelor’s degree in business from the University of Southern Mississippi in 2003.
It took her two years to find a job, and after four years of working and paying off $10,000, she was laid off.
Nationwide, the cost of college has more than doubled since 2000, outpacing the rate of inflation. But while costs have risen, wages have not. Some economists worry about a higher education spending bubble, as some students who incurred debt to get degrees in not-so-lucrative fields won’t be able to pay back loans.
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