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It's a perfect example of the moral hazards and unintentional consequences when the government do-gooders try to increase prosperity. I wish Milton Friedman were alive to witness it.
The politicians told high school kids,
"If you don't go to college, you'll work a McJob for the rest of your life. You need to become overly educated elitists like we are. And since some of you might be able to easily afford college, we'll doll out free money to you."
The result:
Market saturated with degrees. The college degree simply becomes the new high school degree.
Lots of kids 18-22 yrs old are delaying adulthood.
Massive personal debt among college grads. Most don't have any marketable skills, so they end up in podunk jobs in which they'll spend the rest of their lives paying off student loan debt.
Higher education costs always on the increase. What incentive do universities have to provide the best education at the lowest price, when the government is always going to ensure students can afford it?
By the way, the "Every good job today requires a college degree" mantra is no good argument for continuing to inflate the this education bubble. It's a misunderstanding of cause and effect. The reason that so many jobs require a degree is because so many people have one nowadays. It's just a new filtering mechanism. No employers actually think that your 4-year degree in Communications makes you exceptionally qualified for desk work. In fact, they'd be foolish to think that, given that studies show college grads, on average, have the same level of reading and writing skills as when they entered college.
Thanks to the left-wing trying to increase "equality" by making a college education a universal right, it will be true that in the year 2020 you will need a PhD in Accounting just to work a job at WalMart.
I'm sure most of you have already seen this video, but it's a must-see for those who want to understand why college prices are so high today compared to 100 years ago:
It's a perfect example of the moral hazards and unintentional consequences when the government do-gooders try to increase prosperity. I wish Milton Friedman were alive to witness it.
The politicians told high school kids,
"If you don't go to college, you'll work a McJob for the rest of your life. You need to become overly educated elitists like we are. And since some of you might be able to easily afford college, we'll doll out free money to you."
The result:
Market saturated with degrees. The college degree simply becomes the new high school degree.
Lots of kids 18-22 yrs old are delaying adulthood.
Massive personal debt among college grads. Most don't have any marketable skills, so they end up in podunk jobs in which they'll spend the rest of their lives paying off student loan debt.
Higher education costs always on the increase. What incentive do universities have to provide the best education at the lowest price, when the government is always going to ensure students can afford it?
By the way, the "Every good job today requires a college degree" mantra is no good argument for continuing to inflate the this education bubble. It's a misunderstanding of cause and effect. The reason that so many jobs require a degree is because so many people have one nowadays. It's just a new filtering mechanism. No employers actually think that your 4-year degree in Communications makes you exceptionally qualified for desk work. In fact, they'd be foolish to think that, given that studies show college grads, on average, have the same level of reading and writing skills as when they entered college.
Thanks to the left-wing trying to increase "equality" by making a college education a universal right, it will be true that in the year 2020 you will need a PhD in Accounting just to work a job at WalMart.
I'm sure most of you have already seen this video, but it's a must-see for those who want to understand why college prices are so high today compared to 100 years ago:
You are either one who has been taught Student Tuition program and about
Milton Friedman economic theories by someone purposely trying to make sure you are unaware of those things, or you are one who is desirous "teaching" such to others.
You are overgeneralizing. Lumping in a psychology degree from University of Pheonix, and an engineering degree from The School of Mines, then labelling them all useless because the first one is an overpriced useless degree is disingenuous at best.
There are problems with universities that are barely accreditied, if accreditied at all, that are paid for with private and public loans. There are problems with degree programs that really are not useful in the marketplace. The issue is not education itself...it's that businesses came into education (like University of Pheonix) and eroded away the regulations concerning accredidation, limits on loans, and discernment on approval for loans.
If you wanted to go back to the start of loans they would have laughed at you if you wanted to get a loan for a degree in Japanese literature at even the best school. Now they have had their hands so tied that they can only check your assets and credit score to approve your loans. Private loans and private universities are the worse, with regulations so peeled back. They would admit a boiled turnip, give the max loans to it, then not care as long as the checks don't bounce...and scream about "acidemic freedom" when people try and regulate it.
You are either one who has been taught Student Tuition program and about
Milton Friedman economic theories by someone purposely trying to make sure you are unaware of those things, or you are one who is desirous "teaching" such to others.
Do you not believe that saturating colleges with "free" cash is one reason universities have raised tuition at exceptional rates?
You are overgeneralizing. Lumping in a psychology degree from University of Pheonix, and an engineering degree from The School of Mines, then labelling them all useless because the first one is an overpriced useless degree is disingenuous at best.
There are problems with universities that are barely accreditied, if accreditied at all, that are paid for with private and public loans. There are problems with degree programs that really are not useful in the marketplace. The issue is not education itself...it's that businesses came into education (like University of Pheonix) and eroded away the regulations concerning accredidation, limits on loans, and discernment on approval for loans.
Yes, the University of Phoenix is the reason it costs three thousand dollars a credit.
What a crock. Government made a big mistake in lending out all the cash. It opened the spigot and allowed Universities to raise tuition by incredible rates.
Tenured professors are another reason. College Athletics are another.
Its all a bunch of BS. But to blame the University of Phoenix is rediculous.
You are overgeneralizing. Lumping in a psychology degree from University of Pheonix, and an engineering degree from The School of Mines, then labelling them all useless because the first one is an overpriced useless degree is disingenuous at best.
I never labeled them all useless. I acknowledge that college pays off for a lot of people. Always has. But the result of sending more people to college is it just becomes more competitive to be in the group for which college pays off. Where I went to school, you had to be in the top 90% of 95% if you wanted to be formally studying the subjects that get you good jobs (Computer Science, Electrical Engineering, etc.). And the school doesn't expand the size of those departments to accommodate the large number of students who want to study the subjects. One of the reasons that those degrees pay off is because the market is not saturated with people holding those degrees. Not yet at least.
Go to CC first 2 years and then transfer to state school= degree without much debt. Nobody forces anyone to go to a 40k a year school+dorm costs out of state.
I never labeled them all useless. I acknowledge that college pays off for a lot of people. Always has. But the result of sending more people to college is it just becomes more competitive to be in the group for which college pays off. Where I went to school, you had to be in the top 90% of 95% if you wanted to be formally studying the subjects that get you good jobs (Computer Science, Electrical Engineering, etc.). And the school doesn't expand the size of those departments to accommodate the large number of students who want to study the subjects. One of the reasons that those degrees pay off is because the market is not saturated with people holding those degrees. Not yet at least.
Its not about how many students are going to college, it is about the cash flow from the Government.
Government once again eliminated price competition by flooding the schools with billions. It was a green light to them to raise tuition\; to repeat myself.
Go to CC first 2 years and then transfer to state school= degree without much debt. Nobody forces anyone to go to a 40k a year school+dorm costs out of state.
Yup, that is the way to go. I wish I knew better 18 years ago- about the time tuitions really started to accellerate.
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