Student Loans keep growing...

"Student loans have more than tripled over the past decade, according to new data from the Federal Reserve.

Student loan debt hit $904 billion in the first quarter of 2012, up from $241 billion a decade ago, according to the Federal Reserve Bank of New York quarterly household debt report. That's up 275% since the same period in 2003."

Why is that? Oh I know the educrats in "big education" keep telling everyone they "need" a collage degree. They do not care if they have the aptitude or even the desire. They just keep drilling into their heads you "have to go to collage". So from the local community collage to small state U to Big State U they are filled to the brim with kids flush with student loans. Those loans prop up the entire pyramid scheme. Well now , if I can borrow Obama's preachers favorite line...."The Chickens are coming home to roost." Big Education has gotten so big it needs even more student loans...I mean students. To keep the scam going. Do you see cuts in the collages in universities? Not token cuts...but real draconian cuts to keep the cost down. HELL NO! So what happens...Big Education keeps taking the loan cash...and churning out people that do not have the ability to get a job to pay back the loan. But what do they care...Big Education cashed the checks. So now we have a class of folks who for better or worse were pressured by the educrats and Big Education to get student loans and go to collage but they cannot find a job that can help them pay off the massive debt they are under. So what happens next...that is the ticking sound you hear. A massive student loan bomb that is going to affect everyone. Well almost everyone...I am sure the Educrats and Big Education will be ok...after all...the checks cleared. 

The solution is simple but Big Education won't like it...that is...not everyone needs a collage education. Not every job needs someone with a degree. Or just make getting loans tougher, if you go to the bank and they say..."So what are you getting a degree in? " and you say "Woman's studies" or "Art History" or "Archaeology"...well good luck...but we are not giving you a loan. Come on...the banks are making an investment and they should not have to loan money to some one who will be getting a degree that will not have a ROI. And there should not be ANY government backed student loans they are taking a risk but are not getting any reward. 

Maybe if Big Education had to really earn it's tuition...they would be more selective,on it's students and staff. But as long as Big Education keeps getting checks with out consequence of the product it churns out. Nothing will ever change...and the edudebt bomb will explode. And many of those same educrats will be out of a job like the unqualified students they churned out. 

Well that is just the way I see it...then again I am an evil genius.