Word to the wise: when you go to college, figure the costs, and figure them good.<p>Then, figure the <i>benefits</i>, and don't take the Humanities degree unless you are independently wealthy or are okay being under your debt load for years and years.<p>It's a lousy system, but don't bias your strategy towards being a barista for years.
The big question I have about this article, which unfortunately goes uncommented upon by the author has to do with the accompanying graph. Yes, students loan debt is constantly rising, but so was credit card debt until recently. The graph shows a huge decline in credit card debt. I wonder if this has to do with the economic downturn leading to bankruptcies which can clear out credit card debt?
Ritholtz graphed recent consumer credit activity, and student loans looked to be all of the recent credit uptick.<p><a href="http://www.ritholtz.com/blog/2011/04/fade-the-consumer-credit-headline/" rel="nofollow">http://www.ritholtz.com/blog/2011/04/fade-the-consumer-credi...</a>