Graphic
|

The Education Bubble: Will Ballooning Student Debt Sink Higher Ed?

by Daniel Indiviglio

You think the housing bubble was enormous? Meet the education bubble. A recent article here by Andrew Hacker and Claudia Dreifus explained the debt crisis at American colleges. But some startling statistics will help to make their analysis a little more tangible. The growth in student loans over the past decade has been truly staggering.

Here’s a chart based on New York Federal Reserve data for household debt. The red line shows the cumulative growth in student loans since 1999. The blue line shows the growth of all other household debt except for student loans over the same period.

 

This chart looks like a mistake, but it’s correct. Student loan debt has grown by 511% over this period. In the first quarter of 1999, just $90 billion in student loans were outstanding. As of the second quarter of 2011, that balance had ballooned to $550 billion.

The chart above is striking for another reason. See that blue line for all other debt but student loans? This wasn’t just any average period in history for household debt. This period included the inflation of a housing bubble so gigantic that it caused the financial sector to collapse and

Want to leave a comment? Feel free. You do not have to be logged in to comment, or respond to a comment. 

Want to read the rest of this article? Of course you do! You need a subscription. Current subscribers please   then you may continue reading. To RENEW/EXTEND an existing subscription, please  then visit the MY SUBSCRIPTION link found at the top of the page. Do not use this form.  

TO PURCHASE A NEW SUBSCRIPTION, scroll down, select the Site Pass you want, register, pay and read! 

Purchase a subscription online and you'll have instant access to all of our premium editorial content.During regular business hours M-F, you may also contact us via phone (734-930-6854) to purchase, renew, upgrade or extend a subscription using a credit card.To upgrade, renew or extend your existing subscription instantly online, please do NOT use this form. Instead, log in and visit the "My Subscription" link at the top of the page.Mail checks or money orders to: AdjunctNation, PO Box 130117, Ann Arbor, MI 48113-0117.

Classified Advertiser - 1500 USD per 1 year - for 1 time
Classified Advertiser registration is for advertisers who purchase a 1-year package. Once you have created an account, and your account has been activated, you may post jobs individually or purchase a package to post unlimited jobs for one year.
Library/Institution Print + Digital Subscription - 299.00 USD per 1 year - for 1 time

THIS IS A PRINT SUBSCRIPTION THAT INCLUDES UNLIMITED DIGITAL ACCESS.


Library/Institution Print + Digital Subscription: Purchase the quarterly AdjunctNation print magazine delivered by mail. This subscription includes copies of the print magazine as well as unlimited access to all premium content on AdjunctNation.com from any device from anywhere worldwide.


Your Print + Digital Subscription to AdjunctNation.com offers convenient online access to AdjunctNation.com for everyone at your institution — administrators, faculty, staff, and students. Readers enjoy unlimited, searchable access to every feature, essay and news article published since September 2000.


Libraries may order through EBSCO or most other fulfillment agencies. We offer username/password access, as well as IP recognition access for libraries. Please note: to use a purchase order, please call 734-930-6854.

Library/Institution Digital Site Pass - 199.00 USD per 1 year - for 1 time

Library/Institution Digital Site Pass: Purchase unlimited access for the faculty in your college to AdjunctNation’s daily updated and archived editorial content for 1 year. This subscription includes unlimited access to all premium content on AdjunctNation.com from any device from anywhere worldwide.


Your Digital Subscription to AdjunctNation.com offers convenient online access to AdjunctNation.com for everyone at your institution — administrators, faculty, staff, and students. Readers enjoy unlimited, searchable access to every feature, essay and news article published since September 2000.


Libraries may order through EBSCO or most other fulfillment agencies. We offer username/password access, as well as IP recognition access for libraries. Please note: to use a purchase order, please call 734-930-6854.

1 Year Individual Print + Digital Subscription - 35.00 USD per 1 year - for 1 time

THIS IS A PRINT SUBSCRIPTION.


1 Year Print + Digital Subscription: AdjunctNation provides non-tenured faculty with the community, analysis, advocacy and insight they need to succeed in Academe. For over two decades, we've been the only higher education news source reporting exclusively for and about the Adjunct Nation.


Enjoy the quarterly AdjunctNation print magazine delivered by mail. This subscription also includes unlimited access to all premium content on AdjunctNation.com from any device from anywhere worldwide. Enjoy all of AdjunctNation's award-winning news, feature stories, provocative essays, thought-provoking opinion pieces, teaching tips and how-to articles for a full year.


Your Print + Digital Subscription to AdjunctNation.com offers convenient online access to AdjunctNation.com 24/7. Readers enjoy unlimited, searchable access to every feature, essay and news article published since September 2000.


Please note: to purchase by phone, please call 734-930-6854.

1 Year Individual Digital Site Pass - 25 USD per 1 year - for 1 time

1 Year Individual Digital Site Pass: Purchase a Digital Site Pass and enjoy all of AdjunctNation's award-winning news, feature stories, provocative essays, thought-provoking opinion pieces, teaching tips and how-to articles beginning today for a full year.This subscription includes unlimited online access to all premium content on AdjunctNation.com from any device from anywhere worldwide.


Your Digital Site Pass to AdjunctNation.com offers convenient online access to AdjunctNation.com 24/7. Readers enjoy unlimited, searchable access to every feature, essay and news article published since September 2000.


Please note: to purchase by phone, please call 734-930-6854.

6 Month Individual Digital Site Pass - 15.00 USD per 6 months - for 1 time

Six Month Individual Digital Site Pass: Purchase a Digital Site Pass and enjoy all of AdjunctNation's award-winning news, feature stories, provocative essays, thought-provoking opinion pieces, teaching tips and how-to articles beginning today. This subscription includes unlimited online access to all premium content on AdjunctNation.com from any device from anywhere worldwide.


Your Digital Site Pass to AdjunctNation.com offers convenient online access to AdjunctNation.com 24/7. Readers enjoy unlimited, searchable access to every feature, essay and news article published since September 2000.


Please note: to purchase by phone, please call 734-930-6854.

 
Authorize.Net
Authorize.Net processes AMEX, Visa, Mastercard and Discover credit card payments made online securely and safely. 
Paypal Standard
You do NOT need a PayPal account to use this payment method. PayPal allows credit card payments to be processed safely and securely. PayPal operates with credit cards, debit cards, bank accounts and PayPal accounts to make safe purchases online, without disclosing your credit card number or financial information. 

Short URL: http://www.adjunctnation.com/?p=2515

Leave a Reply

Keep in Touch With AdjunctNation

Graphic Graphic Graphic

Graphic

Want to see your advertisement on
AdjunctNation.com? Click here.

Graphic

Want to see your advertisement on
AdjunctNation.com? Click here.

Archives

Graphic
Graphic

Want to see your advertisement on
AdjunctNation.com? Click here.

Graphic

Want to see your advertisement on
AdjunctNation.com? Click here.

Graphic

Want to see your advertisement on
AdjunctNation.com? Click here.

Recently Commented

  • Anthony: It sounds like there are too many PhDs trying to live off teaching, I am sure if you work in the private...
  • Richard Healy: Hi Dana: I applaud your article and views. I’ve been in this adjunct situation for a long time....
  • Breana: I can’t even begin to comment on how ridiculous this post sounds when considering the perception of...
  • admin: Thanks for taking the survey.
  • Nance Davies: Discouraged.