Monday, June 2, 2014

What They Are Really Telling You

If you've been paying attention to mainstream media on the topic of student loans and especially if you heard the UGA Graduate School commencement speaker you know you are being conditioned for a groundswell of student loan abandonments. And this has been a long time in the making. Let's look at a few things that have been insinuated into our daily mantra:
  • A college degree means you will make more money
  • Investing in a college education is investing in yourself
  • Everyone must go to college--it has become a birthright
The increased cost and supply of graduates is why over 1 in 10 will leave college to face over $40,000.00 in debt while at the same time seeing fewer job opportunities at the entry level. Some report that the total student loan debt exceeds $1trillion, far in excess of credit card debt. At least this money went to a good cause, one that will strengthen the future of the students and society as a whole, right?

Not really.

There has been a mad dash to get a degree--any degree--and many of these provide no value-add that is respected in the employment marketplace. No one in academia is telling the public, the students or the parents this. They ignore this reality while at the same time touting the general value of a college education--no breakdowns by major, degree level or institution.

While the cost to acquire a sheepskin has climbed at a rate far beyond inflation the money has been absorbed by bloated administrations, bureaucrats and boutique, Club Med calibre dorms and non-educational facilities.  At the same time we're seeing fewer full professors and more adjuncts. More money. Less education.

Parents and students have been duped. And we are all being had.

The education establishment has created a bubble, something the educratic bubble blowers and mass media like to call "a crisis". But it is a bubble and it is about to burst.

Those who created the bubble want to see Americans walk away from a commitment that they made in good faith and many others seem to think that is exactly what they should do. This is an attempt to keep the money flowing freely but will only allow the greedy to continue to feed their lusts--money never solves a fiscal problem. But should this come to pass it will prove beyond doubt that American society has abandoned the spirit of self-reliance and integrity that once made a college degree, regardless of field, valuable.