Curious, if the rate of return is catastrophic why do Americans keep borrowing money to go to ultra expensive Liberal art schools and continue to pay for useless degrees? (ie womans studies,etc..) Won't the free market cause demand to drop once word gets around that ending up paying 1400 a month in increasing debt to earn 650 dollars a month fetching coffee is a bad idea? So how does this make economic sense that people continue to borrow money to purchase a useless asset? Typically when something is overpriced and it provides catastrophic non dischargeable debt with a negative return on investment people would stop investing in such an instrument. But yet it seems prices and demand keeps going on. This seems to be unique to America. http://www.alternet.org/economy/106...ery:_student_debt_is_getting_way_out_of_hand/ Golden has taken a three-month hardship deference on her student loans but is well aware that the longer she pushes off payments, the higher the interest will climb. She had hoped to consolidate her loans, which are now at $112,000, but every place she called either no longer handles consolidations or turned down Golden because she was not employed full-time. Since there's no way Golden could possibly make her $1,400-a-month payments on a part-time barista's salary, she brokered a temporarily reduced payment of $650.