What do you think about the college bubble? What do you think it is going to happen, and when?[/quote]
I think the bubble is already here. Tuitions and fees are high, and with budget cuts, it’s hard for students at public schools to get classes.
I’ve been socking money into the 529’s for the boys. I’m hoping they’ll be able to go to a UC or CS school.
I think WW has a point – college education doesn’t mean a job anymore… So as the kids get closer, perhaps we’ll encourage them to go to a vo-tech school… plumbers and mechanics make decent $$.
I do look at college (or vo-tech) as being for job preparation – if I’m paying for it. I’ll have the same strings attached that my parents did: career oriented major, decent grades or you’re cut off etc. (I wanted to be a poli-sci major and was told “good luck paying for that – we won’t”.)
As far as when the bubble will burst… It’s reaching the unsustainable point. In theory, it has to burst at some point. In the meantime I keep putting $ in the 529’s.[/quote]
I agree both with you and WW… Yes the bubble is here… and hope it’s going to burst sooner than later. I also started putting a little every month ($100-200) in 529 since my daughter was born, figuring that with the compound interest and starting at birth it would be enough for a nice private university degree tuition…Wrong!!! Not even a UC one.
But why should the bubble burst? Enough people want degrees and are willing to borrow – for now… If it will just flatten out that’s still way high, unless salaries increase substantially (don’t think so).
