“In the first quarter of 2013, students owed $986 billion in student loans, up $20 billion from $966 billion in the fourth quarter. Student-loan balances outstanding have soared 70% in the past five years, thanks to government backing of loan programs—which has done nothing but sent the price of a near useless education soaring. Prices fall and quality improves where the government doesn’t intervene (see: cell phones, televisions personal computers). Prices soar and quality fall where the government gets heavily involved (see: the health sector and education sector).”
http://www.economicpolicyjournal.com/2013/05/student-loans-are-about-to-cross.html
