College loan rates are now the lowest in a very long time. Lower rates mean lower payment which is good. The problem is the rising cost of education. The total cost of an education over 4 years now is so high that graduates now must carry the debt for many years. This is known as institutional debt carry. The long term cost is significant, which reduces the buying power of our future generation. Actually this problem is not new but now in its 10th year of concern. While cheap debt is attractive, one can’t ignore the long term effect college loans have on housing and the purchase of real estate.