The institution of higher education in America has devolved into a bubble that is an echo of the U.S. housing bubble. Education costs are exploding, funded by a rapidly-expanding $1 trillion student debt bubble as students naively borrow mortgage-like amounts of money only to find themselves working in retail “McJobs” after graduation. Obscene tuition costs are flowing straight into the pockets of fat cats found at all levels of the higher education racket – from $1 million per year earning college presidents to textbook companies to the construction firms that build colleges’ $321 million football stadiums and other opulent vanity projects.
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