This video from National Inflation Association exposes the fraud of higher education.
It's an hour long - but definitely worth watching.
Easy college loans have made college costs soar, and have burdened our children (and parents) with huge debts that they struggle to pay off - even if they are lucky to get good paying jobs.
To add insult to injury - kids are ending up with wholly useless degrees.
Related article: 15 successful entrepreneurs who didn't need college
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2 comments:
I have not watched this yet but want to comment on the trend right now to push teens to pursue their passion. Kids are getting even more useless degrees as they are trying to 'follow their bliss'.
One girl I know enjoys taking photos with plastic toy cameras and vintage plastic cameras and tried telling me she planned to make a career out of not just photography but toy camera photography, and would seek an art degree in photography.
Another is interested in birdwatching and wants a degree in birding.
I am all for hobbies and personal enrichment but some things are just not common enough or profitable to provide jobs that actually pay money!
I am worried that kids of this generation have been encouraged to follow their interests so much that they can't even grasp the concept of having to work to earn a living and to survive and to think of a career as a job that pays money.
Meanwhile my son wants to work at LEGO as a designer but I'm telling him there are only so many LEGO designers that LEGO will employ. Sorry to be discouraging but let's get real. I love my kids but don't plan on supporting them financially when they are adults.
You need to understand one important factor about college loans. A community college for example might charge $2000 for a semester of tuition and books. However a student could easily apply for and get a $5000 or more for the same semester. To the student this looks like free money so they take it and buy a car, party and move away from home. Most graduating students with huge student loan debts spent the majority of the money on non-college related expenses usually outright wasteful spending like parties and travel. The system allows it but that does not mean the student should fall into the trap.
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