Coping with a Higher Education Cost Spiral

The cost of college has risen so much that more than half of Americans no longer think a college education is “worth it.” We have reached the point where the cost of a four-year degree will likely be the second-largest expenditure in your lifetime, second only to your house. Students are literally mortgaging their futures to pay for college. What happens next for higher education, and how should prospective students and their parents weigh their options? These are the topics of this week’s Global Macro Update. Economist Dr. Gary Shilling joins us with his thoughts on the cost of higher education and alternatives to the college track.