"Outstanding student debt now totals over $1 trillion. That's more than the nation's total credit-card debt.
The extraordinary rise in student debt is due to two related facts:
the cost of a college education continues to increase faster than
inflation, and state and local spending per college student continues to
drop -- this year reaching a 25-year low.
But this can't go on. If unemployment stays high for many years, if
the wages of young college grads continue to fall, if the costs of
college continue to rise and state and local spending per college
student continues to drop, and if the college debt burden therefore
continues to explode -- well, you do the math.
At some point in the not-too-distant future these lines cross. College is no longer a good investment."