Infographic: Higher Education Is In A Bubble, When Will It Burst?

“Higher Education is in a bubble. Not only has total student loan debt in the United States surpassed credit card debt, but much of this debt has been taken out for degrees that are not worth the price of tuition. This is due to the fact that many students go to college with the false belief that a degree is a degree. And the colleges and universities profit off this widespread, but mistaken idea. Not all degrees are created equal.

What we’ve found is striking. Not only have tuition and fees have skyrockted at rates much higher than inflation but student debt has grown much faster than consumer debt. As a nation we are investing vast resources into higher education, but what have been the results of this investment?

  • Drop in the quality of education
  • Degrees unmatched to the economic needs of the United States
  • Decreasing graduation rates
  • Declining value of most Bachelor’s degrees due to oversaturation
  • Drastic increases in debt, and the emergence of a wage slave class

Some of have suggested that the United States is currently engaging in a massive mis-allocation of resources – that we’re spending away our wealth on a mis-directed, poor quality, inefficient and unoptimized higher education system. All while the colleges and universities stoke their bank accounts.

Do we think there’ s a solution? Yes. And the first step is to start assigning economic value to specific degrees so that students can make wise decisions about the debt that they take on for education.”

Original Source:  http://www.thebestcolleges.org/higher_education_bubble/

Comments

  1. vanessa says:

    as much i think the higher-education system is a scam, a few of things: 1. there are two glaring typos in this that make it difficult to take the message seriously. 2. many universities rely largely on endowments. as the economy has crumbled, this source of capital has dried up. i used to work for an ad agency that mainly had university clients, and i was one of the almost half of the firm that got laid off in 2010 when our clients budgets disappeared due to the disappearance of their endowments. i believe that the meteoric rise in tuition and fees is largely due to that – schools arent getting the cash that they need, so they are passing the costs off to students with no ceiling in sight. 3. this infographic doesnt take into account the credit-card debt that students acquire to avoid taking out loans and the additional cc debt that they acquire trying to make a go of it with their degrees in a work force that has no space for them – these people/we are also wage slaves. i feel for people who cant just cut their losses and get rid of their debt through bankruptcy (my only solution now), as the solution to the problem is to ultimately remove oneself from the system and focus on reducing expenses down to a minimum that can be supported with the crapppy jobs that most people end up with on a long-term basis these days. the viability of this system is reliant upon the indoctrination of people to believe that they need to go to school to earn a certain amount of money so that they can afford all of this stuff that they “need”. freedom from the slavery comes from realizing that all of that stuff is shackles and that a life of freedom without it is far more/truly gratifying.

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