loan debt is 1.2 trillion dollars, more than any other form of
consumer debt. Unlike houses, cars, and other goods, higher
education cannot be “liquidated” to pay back this debt if it
turns out the good, “education” is worthless.
Average student debt is $29,400. This sort of debt cannot be
discharged via bankruptcy, so a graduate must start paying it off
right away before it balloons.
Although we’re told getting a
college degree is the path to riches, 53%
of college graduates are unemployed or underemployed. These
graduates can’t start paying off the debts immediately. Those
debts just get larger, and larger, with no hope of paying them off.
banks organize themselves to help feed college professors, since
most are paid very little and given no benefits, so they qualify for
welfare. Even graduate degrees from higher education don’t mean
classes can now have 1,000 or more students, even as tuition
rises and rises. What kind of education can you get in a huge hall
where the “master” might never get within 100 yards of you?
You’re better off opening the book and studying on your own time.
College professors can make
more tutoring 1 on 1 ($30 or more an hour) than teaching in college.
It’s a bad sign for education when both teacher and student are
better off with no school involved.
Although colleges have grossly
increased their student base, there’s been little increase in
most college employees used to be faculty, now it’s mostly
administration and support for administrators.
College president pay is
skyrocketing, with $1,000,000 salaries (plus awesome benefits like a
mansion, jet, and other expenses quite common) typical, even
though it’s known the more you pay the president, the worse off
the students are. The map pictured above, incidentally, is the
highest paid public employee by state—usually a university coach,
but always someone in higher education (never a scholar or teacher,
Most college work is high
school level or lower, much
lower, as in the 6th grade. Not the 6th
grade of a century ago, but the same 6th grade taught in
the public school down the road, on the same day the same material
is taught in “college”.
Many campuses are filled with
Runners”, students that roam from campus to campus, getting
free grant money because the highly paid administration doesn’t
have time to keep records. Administrators care about growth, not
education, so all warm bodies are welcome on campus, even if they’re
there strictly for fraud.
There is so much fraud and
corruption going on in higher education that it’s hard to stop at
While accredited schools are
often shams, unaccredited,
for-profit schools exist which are quite legitimate--they don't
even charge tuition in advance. Instead, they take it out of your
paycheck--if you don't get a job after graduating, you owe nothing.
Why aren't accredited schools good enough for that?
Accreditation, which is
supposed to verify schools are legitimate, does no such thing, and
the rules of accreditation provide no penalties. This is why even
serious and 18 year long violations of accreditation yield no
penalty to the schools involved, even when the schools intimidate and
use fraud to cover up the violations. The reason for this is
accreditation is run by the same people concurrently while these
people hold administrative positions in higher education. Conflict
of interest, anyone?