Comment Not the Root Cause (Score 1) 331
While this is interesting to try, the root cause is that college debt is magical debt which can't be discharged through a bankruptcy proceeding. The ease of acquiring practically limitless student debt has created the problem. The easy money drives up costs for tuition, and the cycle repeats itself as students borrow even more money for increasingly useless degrees.
It's inflation, pure and simple.
To those who would say that the purpose of education isn't to get a job; well someone should have informed the Millennials, who were told their entire time in school that an education would get them a job. To those who would say that they worked through college and didn't go into debt, you probably had far, far cheaper tuition than your average student today, and probably went to college more than 2 decades ago.
I worked through college, had the GI bill, and still managed to require student loans to attend a university. 20 years ago I'd have finished my undergraduate degree in the black, but 20 years of easy money has fattened the education market to hilarious proportions, and now a half-decent degree from a good university is basically a mortgage without a house.
The problem is the cost of education; not its usefulness. And all of these problems apply equally to for-profit, and not-for-profit educational institutions.
It's inflation, pure and simple.
To those who would say that the purpose of education isn't to get a job; well someone should have informed the Millennials, who were told their entire time in school that an education would get them a job. To those who would say that they worked through college and didn't go into debt, you probably had far, far cheaper tuition than your average student today, and probably went to college more than 2 decades ago.
I worked through college, had the GI bill, and still managed to require student loans to attend a university. 20 years ago I'd have finished my undergraduate degree in the black, but 20 years of easy money has fattened the education market to hilarious proportions, and now a half-decent degree from a good university is basically a mortgage without a house.
The problem is the cost of education; not its usefulness. And all of these problems apply equally to for-profit, and not-for-profit educational institutions.