Now it's two months after graduation. I have an Ivy League master's degree, but I certainly don't feel $60,000 smarter. In fact, I feel a bit like I've snapped out of the piper's trance, only after stepping off the cliff.
Much like the mortgage brokers who promised pain-free borrowing to homeowners just a few years back, many colleges don't offer warnings about student debt in the glossy brochures and pitch letters mailed to prospective students.
As students continue to need private loans to fund education, and banks continue to provide these funds, I am starting to wonder if student loans could lead to another economic crisis and an eventual bailout for banks in the future.