Higher Education: The New Bubble or Racket

Higher Education is part of the American Dream. We were told when we were in school that if you go to college and work hard that there would be a job waiting for you after graduation. You would be able to buy that home and car along with marrying and starting a family. Fast forward to 2012 and it seems like it is a "dream" deferred. College grads are not finding jobs therefore causing them to stay at home with parents along with student loan debt that they can't repay. The banks which were middle men in the student loan process made off like bandits leaving students with a "handsome Kings Ransom" of loan debt. The Universities have been noted to have inflated the tuition prices knowing that students and parents had the ability to take out student and parent plus loans. It has also been said that Universities were literally banking on the fact that parents could refinance on their homes especially during the housing bubble if necessary to finance their  kids education. Now as an option to seek further education or to escape repayment of loans is the emergence of the online programs. Students are pursuing masters degrees which puts current loans in deferment.  These programs are most times over priced thereby forcing the student to seek further loans which is deeper debt. So who is making money from education? Is it the student? The banks? The universities and online programs? The answer is clearly not the student.