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Wednesday, March 11, 2015

MARK CUBAN: This is just the start of the college implosion

So Cuban editorialized the closure of a small all-female liberal arts college in Virginia:
One person not surprised by Sweet Briar's news was Mark Cuban, the entrepreneur and billionaire investor. For years, Cuban has been warning of a "student loan bubble," which he says will soon burst and leave many schools suffering.

On Tuesday, after Sweet Briar made its announcement, Cuban tweeted "This is just the beginning of the college implosion."

"As this little college saw, there will be other students that get their heart set on one college, and it won't be there when they graduate," Cuban said in an interview with Business Insider.

There's a growing education bubble, with rising tuition and students taking out loans they might not be able to pay back, according to Cuban. "At some point," he added, "it's going to pop."
It's all about the student loans and the student's ability to repay. Something I'm facing myself.

So the next question Cuban seems to run into:
This debt ultimately will outweigh most of the potential benefit you're getting from the college education, Cuban said. "What you thought you were going to get in quality of life by going to that college, you've just undermined with the amount of debt you're taking on," Cuban said.
My two cents is that getting a bachelor's is expected almost akin to getting another high school diploma only that it truly costs money and you'd have to take out loans. We hear about how those with a bachelor's make more money than those with a high school diploma but only matters if you're free and clear when you graduate. Now what I hope future high school juniors & seniors in addition to college students is consider what they expect to do with a college degree.

I wonder what was expected of someone with a college degree during the era where it wasn't expected as opposed to an era as today where it's not merely expected but it's entitled. Another conclusion I've come to about college with the government offering financial aid such as student loans it's more of an entitlement.

Of course this is not to say hey everyone shouldn't attend a higher education institution, however, what I want are those who are serious to go to school and be successful. Not for those who were pushed into such an undertaking and they weren't very serious especially with study or finances.

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