Too Much Interest in College
No, I don’t mean that people are too interested in getting an education: I mean that a college education ends up imposing enormous interest costs on those who incur debt to finance it, and it’s even worse when you note the fact that it’s easy to get deferrals on college debt (so the Vig keeps running) but almost impossible to get debt forgiveness (not even with full-out liquidation bankruptcy). No wonder that colleges have opened up a major revenue source for themselves by jointly marketing credit cards to college students. After all, they are already pre-screened as people who are much more willing than other 18-year-olds to incur large debt obligations.
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