In an interview with Inc.com, Mark Cuban, owner of the Dallas Mavericks, raised concerns about the $1 trillion collective student loan debt of the United States.
“College tuitions have exploded because of easy money guaranteed by Sallie Mae. If any student, or potential student, can borrow more and more money and is guaranteed by the federal government, why wouldn’t the colleges take it all?”
The very same thing that happened with the housing crash of 2008 could very well happen in the university business as well.
Business Insider– Mark Cuban thinks colleges are going to go out of business.
In a clip on Inc.com, Cuban talks about the student loan bubble, which he says will burst and end badly for colleges.
The end of the student loan bubble, Cuban says, will be like the housing bubble, where tuition collapses the way the price of homes collapsed.
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