Young people in America are bombarded with the message that they won't find meaningful employment without a degree (and sometimes a graduate degree).

Meanwhile, universities have increased their fees to astronomical levels, far ahead of inflation, and lenders offer easy credit to students as a means of paying these sums.

The loans are backed by the government, and constitute a special form of debt that can't be discharged in bankruptcy, and that can be doubled, tripled, or increased tenfold through usury penalties for missed payments.

The economic distortion field around higher education needs more study.