LANSING -- Tuition may be rising at Michigan State University, the University of Michigan and other colleges across the state and the nation, but businessman Mark Cuban says those increases will lead to a collapse in the student loan market.
Cuban, a businessman who owns a movie house chain and the NBA's Dallas Mavericks and appears as an investor on ABC's "Shark Tank," says the rising cost of college tuition is part of a "student loan bubble" that could rival the collapse of the housing market.
"College tuitions have exploded because of easy money from Sallie Mae," Cuban said in the video. "The problem is, that bubble has led to more than $1 trillion in student debt, which is having an effect on the economy and really holding us back."
Cuban said that a collapse in the student loan market would cause sharp drops in tuition and force colleges out of business.