Glenn Harlan Reynolds wrote Encounter Broadsides pamphlet No. 29 entitled The Higher Education Bubble. This pamphlet is about the cost of higher education. Ideally, people who go to college should get a good paying job. Realistically, college students are graduating with more debt than they can pay back and they can't discharge their school loans in bankruptcy.
According to the author, "Total student-loan debt in America has passed the trillion-dollar mark, more than total credit card debt and more than total auto-loan debt." Ironically, to avoid financial ruin, many people are choosing not to go to four year colleges and universities. Glenn Harlan Reynolds believes the education bubble, like the housing bubble of 2007, will burst sooner than later.
In The Higher Education Bubble he explains why the cost of education rises and what may happen if the bubble does burst. St. Paul readers can order The Higher Education Bubble on the Encounter Books website. To receive future St. Paul Books Examiner articles from Examiner.com, click "Subscribe."