worth it? Is a college education really worth the investment of
time, money and energy? Is a college degree really worth becoming
enslaved to student loan debt that will haunt you for decades? The
truth is that a college education is a massive gamble. For millions
of Americans it works out well, but millions of other college graduates
have found themselves completely unable to get a quality job in
this economy and yet they are still trapped in a nightmare of student
loan debt from which there is no escape. Millions of young Americans
have discovered that they have become "indentured servants" the
moment they graduate. The entire system encourages our young people
to take out whatever college loans they "need" without worrying
how they will pay them back because a college education is such
a good "investment". Once upon a time, a college education was actually
an almost automatic ticket to the middle class. Today, a college
education does not guarantee you anything, but for millions of Americans
it does turn out to be an automatic ticket to student loan hell.
It has been
an open secret for decades that college is one big joke. But at
least a college degree could get you a job.
Now that a
college degree won't open the same doors that it used to, is college
really worth it?
us who have been there know an undergraduate education is primarily
a four year vacation interrupted by periodic bouts of cramming
or Google plagiarizing, but at least it used to serve a purpose.
It weeded out underachievers and proved at a minimum that you
could pass an SAT test. For those who made it to the good schools,
it proved that your parents had enough money to either bribe administrators
or hire SAT tutors to increase your score by 500 points. And a
degree represented that the graduate could “party hearty” for
long stretches of time and establish social networking skills
that would prove invaluable later on at office cocktail parties
or interactively via Facebook. College was great as long as the
jobs were there.
be so bad if college was not so darn expensive. Tuition alone at
many schools is 30, 40 or even 50 thousand dollars a year.
recent Pew Research Center polling, 75%
of Americans believe that college is too expensive for most
Americans to afford.
For many American
families with multiple children, the cost of college education is
absolutely staggering. The following is an excerpt from an article
posted on CNN....
as raising teenagers goes, Wade and Julie Scheckla can't complain.
The California couple's oldest daughter, Paige, 19, is an honors
student heading into her junior year at the University of California
at Los Angeles, while 17-year-old Brett and 14-year-old Kennedy
are straight-A students and standout athletes.
high-achieving kids, however, comes a college-funding triple threat:
Two years down and seven more to go, with at least three years
of tuition-bill overlap.
all payable within a decade, could easily exceed $300,000.
system is breaking down. There is no way that the status quo is
sustainable. Most families can't afford to shell out that kind of
worth it? Just consider the following statistics about how much
debt our young Americans are going into just to get an "education"....
According to the
Student Loan Debt Clock, total student loan debt in the United
States will surpass the 1 trillion dollar mark in early 2012.
Total student loan debt in the United States is increasing by approximately
The average college student now leaves school with
$24,000 in student loan debt.
to very extensive research detailed in a new book entitled "Academically
Adrift: Limited Learning on College Campuses", 45 percent of U.S.
college students exhibit "no
significant gains in learning" after two years in college.
ended bankruptcy protections, refinancing rights, statutes of
limitations, truth in lending requirements, fair debt collection
ones, and state usury laws when applied to federally guaranteed
student loans. As a result, lenders may freely garnish wages,
income tax refunds, earned income tax credits, and Social Security
and disability income to assure defaulted loan payments. In addition,
defaulting may cause loss of professional licenses, making repayment
even harder or impossible.
of recent college graduates that are drowning in student loan debt
can't even get good enough jobs that will enable them to service
those loans. Just consider the following statistics....
According to the Economic Policy Institute, the unemployment rate
for college graduates younger than 25 years old was
9.3 percent in 2010.
In the United States today, approximately 365,000
cashiers have college degrees.
In the United States today, 24.5
percent of all retail salespersons have a college degree.
The truth is
that there are not nearly enough jobs for everyone. There are now
more hard working Americans sitting at home without jobs than at
any other point since the Great Depression. A recent article authored
by Mortimer Zuckerman for
usnews.com made this point beautifully....
over 14 million people are unemployed. We now have more idle men
and women than at any time since the Great Depression. Nearly
seven people in the labor pool compete for every job opening.
Hiring announcements have plunged to 10,248 in May, down from
59,648 in April. Hiring is now 17 percent lower than the lowest
level in the 2001-02 downturn. One fifth of all men of prime working
age are not getting up and going to work. Equally disturbing is
that the number of people unemployed for six months or longer
grew 361,000 to 6.2 million, increasing their share of the unemployed
to 45.1 percent.
So in light
of all this, is college really worth it?
For some fields,
a college degree is absolutely necessary. That doesn't mean that
a job will be there when you graduate, but if you are determined
to work in a field where a college degree is 100% required, then
it might be a gamble you are willing to take.
millions of others young Americans college is simply not worth it.
There are literally
millions of disillusioned young college graduates out there today.
Large numbers of them are living back at home with their parents.
Many of them have fallen into deep depression.
As a recent
canada.com noted, an increasing number of our young people (especially
our young men) are just "checking out" and giving up hope....
the majority of young men are getting through school, finding
work and eventually raising families, there is evidence of rising
numbers who are dropping out of school, not looking for work,
endlessly playing video games, even living at home in their parents'
For much more
on the state of college education in the United States, check out
a new YouTube video entitled "College
It is an hour
long video but it is really worth watching. You can view the video
on YouTube right
What is perhaps
one of the saddest things of all is that our colleges and universities
are all about training our young people to become part of the "system".
Most parents have no idea how much indoctrination goes on inside
college classrooms. In
a previous article, I described what I saw during my 8 years
at American universities....
open secret is that most of our colleges and universities are
little more than indoctrination centers. Most people would be
absolutely shocked at how much unfiltered propaganda is being
pounded into the heads of our young people.
colleges and universities, when it comes to the "big questions"
there is a "right answer" and there is virtually no discussion
of any other alternatives.
fields there is an "orthodoxy" that you had better adhere to if
you want to get good grades.
just say that "independent thought" and "critical thinking" are
not really encouraged at most of our institutions of higher learning.
is that college is a very expensive joke. It is a 4 (or 5 or 6)
year vacation away from reality. If you can ignore all of the establishment
propaganda that they try to pound into your head, it can be a lot
you have to take out loans, going to college can be an incredibly
painful financial decision as well.