Somebody Explain Why Degrees Costs So D#mn Much, Please?

I don’t think a degree should cost as much as a mortgage, but I do know people whose student loan payments are equivalent to their rent. Over at attn:, Aron Macarow explains why Paying For College Is Now Harder Than Paying Off A Home:

“Student loans made up the smallest portion of household debt until 2009. Now, U.S. educational borrowing amounts to $1.16 trillion. This amount has been ballooning for years, surpassing total credit card debt almost five years ago – and jumping $77 billion in the last year alone. Nearly 1-in-5 households are impacted by student loans. That’s almost a quarter of the United States.”

Seriously, why the dramatic increase since 2009? Is it the recession creating more degree-seekers? Has it increased tuition and fees? Both? Here’s one take on where all that money goes.

I think I need to go look at some pretty paintings now.

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