The cost of a college education has nearly doubled in the past 12 years! In her recent article for the Daily Beast, Megan McArdle explains how government subsidies for student loans are driving up the price tag on a college degree and encouraging some students to make unwise investments. The article warns that we are approaching a student debt crisis eerily similar to the housing bubble.

“In a normal market, prices would be constrained by the disposable income available to pay them. But we’ve bypassed those constraints by making subsidized student loans widely available. No, not only making them available: telling college students that those loans are “good debt” that will enable them to make much more money later.”

Read the rest of the article here.