EDUCATION BUBBLE II

In the course of reading my latest bar association journal, I just found out that people graduating from law school these days can owe between $60,000 and $100,000, and that many of them are signing up for 30-year repayment plans. Thirty years to finance a hundred grand--sound familiar? It's pretty much the standard "starter home" mortgage. That's scary. Does it mean that these folks are paying their student loans instead of buying a home? I suspect it does, at least for the first few years. Med school is probably even worse. So much for the American Dream.