The college student debt machine [Personal Finance]

I know the kind of tough situation faced by Singapore graduates when they are all of a sudden saddled with 20k of student loans give and take once they got out of university. It is even tougher if you take medical school or overseas education. Then again,if you study med school i would expect that your earnings power is much higher.

Education overseas is much more expensive, at least we get subsidize as Singaporeans for our uni courses if you are a singaporean.

Here, toughmoneylove, wrote about a next bubble waiting to explode, which is the size of college student loan that schools are psyching the parents and students to take.

As you can see, tuition and fees have shown a relentless increase over time at a rate that is four times greater than increases in the consumer price index and three times faster than increases in family incomes. Colleges have been called to the carpet on this many times. I have yet to hear orreadanyplausible explanation or justification for why this should happen and why it should be allowed to happen. Colleges expect us just to accept this as the way it is. I dont.

When, it comes to education, no one denies the benefit of it in the long run, but there is a price to pay for everything. My question is, if it is that expensive, what is the alternative for US students? don’t study? Let me hear your thoughts.

[Article: The college student debt machine]