> if things were different they might be worse than they are. That's true of anything.
Sorry for being too subtle. What I was pointing out is that the higher interest rates we are currently seeing, in combination with the ever-rising cost, could mean we're at (or even past) the tipping point now. This won't be apparent to many people until 10-15 years after the tipping point is reached, when people realize that the premium they thought they were getting is outweighed by their loan payments.
But this is just the tail of the dog. The main point is that college is largely about signaling, which means that much of the value is in the acceptance letter, not the diploma. Why pay $400,000 to get the diploma if this is the case?
Sorry for being too subtle. What I was pointing out is that the higher interest rates we are currently seeing, in combination with the ever-rising cost, could mean we're at (or even past) the tipping point now. This won't be apparent to many people until 10-15 years after the tipping point is reached, when people realize that the premium they thought they were getting is outweighed by their loan payments.
But this is just the tail of the dog. The main point is that college is largely about signaling, which means that much of the value is in the acceptance letter, not the diploma. Why pay $400,000 to get the diploma if this is the case?