Anecdata, but graduated in ‘08 and it looks like the chart roughly matches the doubling in tuition in the university I attended since then.
I used loans to pay for my education, and one effect that has from an individual level is that it really changes your appetite for risk during the payoff. From a macro level it’s probably nice to have indebted young people motivated to work; however, I’m sure it produces a lot fewer entrepreneurs willing to gamble on a great idea.
I used loans to pay for my education, and one effect that has from an individual level is that it really changes your appetite for risk during the payoff. From a macro level it’s probably nice to have indebted young people motivated to work; however, I’m sure it produces a lot fewer entrepreneurs willing to gamble on a great idea.