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Is this ‘college education revelation’ peculiar to US only …

January 14, 2011

or it is the same story worldwide?

 

I also overheard recently tuition fees in UK have similarly escalated by as much as 300%. This must have put tremendous pressure on the majority of students and/or their parents. Is that why they went on a rampage not too long ago to vent their frustration?

Whatever it is, it seems the middle-class is getting squeezed from all angles these days. Among others, they also have to contend with regular sharp increases in food and fuel prices and all kinds of taxes the authority can possibly dream up. Next, I read somewhere, some are even considering taxing the air that one breathes out as a form of carbon tax! All these mind-boggling daylight robberies while incomes remain relatively flat, if not under pressure to take a dive.

What happened? Where are the economists, people’s representatives and what-have-you-experts whose jobs are to ensure this sorry state of affair do not get to this level? Seriously, is our standard of education made out to be what it is today? Are we generally getting smarter or are we being herded to be clever to be stupid?

It’s all “business as usual”, I guess. ;-)

16 Shocking Facts About The Student Loan Debt Bubble And The Great College Education Scam

As you read this, there are over 18 million students enrolled at the nearly 5,000 colleges and universities currently in operation across the United States.  Many of these institutions of higher learning are now charging $20,000, $30,000 or even $40,000 a year for tuition and fees.  That does not even count living expenses.  Today it is 400% more expensive to go to college in the United States than it was just 30 years ago.  Most of these 18 million students have been told over and over that a “higher education” is the key to getting a good job and living the American Dream.  They have been told not to worry about how much it costs and that there is plenty of financial aid (mostly made up of loans) available.  Now our economy is facing the biggest student loan debt bubble in the history of the world, and when our new college graduates enter the “real world” they are finding out that the good jobs they were promised are very few and far between.  As millions of Americans wake up and start realizing that the tens of thousands of dollars that they have poured into their college educations was mostly a waste, will the great college education scam finally be exposed?

For now, the system continues to push the notion that a college education is the key to a good future and that there is plenty of “financial aid” out there for everyone that wants to go to college.

Recently, U.S. Secretary of Education Arne Duncan visited students at T.C. Williams High School in Alexandria, Virginia and encouraged them to load up on college loans….

“Please apply for our financial aid. We want to give you money. There’s lots of money out there for you.”

So where will Arne Duncan be when those students find themselves locked into decades of absolutely suffocating student loan debt repayments?

What young high school students are never told is that not even bankruptcy can get you out of student loan debt.  It will stay with you forever until you finally pay it off.

Today each new crop of optimistic college graduates quickly discovers that there are simply not nearly enough jobs for all of them.  Thousands upon thousands of them end up waiting tables or stocking the shelves at retail stores.  Many of them end up deeply bitter as they find themselves barely able to survive and yet saddled with tens of thousands of dollars in student loan debt that nobody ever warned them about.

Sadly, the quality of the education that most of these college students is receiving is a complete and total joke.

Take it from someone that has graduated from a couple of very highly respected institutions.  I have an undergraduate degree, a law degree and another degree on top of that, so I know what I am talking about.  Higher education in America has become so dumbed-down that the family dog could literally pass most college courses.

It is an absolute joke.  The vast majority of college students in America spend two to four hours a day in the classroom and maybe an hour or two outside the classroom studying.  The remainder of the time these “students” are out drinking beer, partying, chasing after sex partners, going to sporting events, playing video games, hanging out with friends, chatting on Facebook or getting into trouble.  When they say that college is the most fun that most people will ever have in their lives they mean it.  It is basically one huge party.

Of the little “education” that actually does go on, so much of it is so dedicated to pushing various social engineering agendas that it makes the whole process virtually worthless.  Most parents would be absolutely shocked if they could actually see the kind of “indoctrination” that goes on inside U.S. college classrooms today.

A college education can be worth it for those in very highly technical or very highly scientific fields, or for those wanting to enter one of the very few fields that is still very financially lucrative, but for nearly everyone else it is just one big money-making scam.

Oh, but you parents please keep breaking your backs to put money into the college funds of your children so that they can be spoon-fed establishment propaganda all day and party like wild animals all night for four years.

It really is a huge scam.  I was there.  I saw it with my own eyes.

But if you will not believe me, perhaps you will believe some cold, hard statistics.  The following are 16 shocking facts about the student loan debt bubble and the great college education scam….

#1 Americans now owe more than $875 billion on student loans, which is more than the total amount that Americans owe on their credit cards.

#2 Since 1982, the cost of medical care in the United States has gone up over 200%, which is horrific, but that is nothing compared to the cost of college tuition which has gone up by more than 400%.

#3 The typical U.S. college student spends less than 30 hours a week on academics.

#4 The unemployment rate for college graduates under the age of 25 is over 9 percent.

#5 There are about two million recent college graduates that are currently unemployed.

#6 Approximately two-thirds of all college students graduate with student loans.

#7 In the United States today, 317,000 waiters and waitresses have college degrees.

#8 The Project on Student Debt estimates that 206,000 Americans graduated from college with more than $40,000 in student loan debt during 2008.

#9 In the United States today, 24.5 percent of all retail salespersons have a college degree.

#10 Total student loan debt in the United States is now increasing at a rate of approximately $2,853.88 per second.

#11 There are 365,000 cashiers in the United States today that have college degrees.

#12 Starting salaries for college graduates across the United States are down in 2010.

#13 In 1992, there were 5.1 million “underemployed” college graduates in the United States.  In 2008, there were 17 million “underemployed” college graduates in the United States.

#14 In the United States today, over 18,000 parking lot attendants have college degrees.

#15 Federal statistics reveal that only 36 percent of the full-time students who began college in 2001 received a bachelor’s degree within four years.

#16 According to a recent survey by Twentysomething Inc., a staggering 85 percent of college seniors planned to move back home after graduation last May.

Source of  the report is from here.

One Comment
  1. Zimbabwean Zombee permalink

    This article is 101% true. Absolutely true. The problem is that young kids have been dumbed-down from high school itself. The teaching and quality of teachers in high-school is so poor, its one big joke.
    So the students/kids lack the brains to understand that its a scam and one big con game going on. The parents are brain-dead too! Just a bunch of totally illiterate and dumbed middle class Americans. If middle class America disappears, they themselves will be to blame for the disaster.
    And also the students are themselves going to college, not to study but to get away from parents/family, have fun and party! So its just one huge party and they’ll willfully join in because everyone else is in it too. So the heard mentality prevails. And they’ll take on boat-loads of financial loans to get the party going.
    This whole thing has now started to end very badly. And its getting worse by the day. Young graduates will not have suitable jobs, will end up doing low paying unskilled jobs off and on, will be financially enslaved to the banks for the rest of their lives..and will soon end up on the streets.
    The party is over and its going to be one huge mess/train wreck going forward whatever you want to call it. A disaster.
    Colleges and public universities will fold up and shut down. For profit institutions of higher education (think University of Phoenix) will go bankrupt and close up shop too.
    Higher education is in for a mega collapse just like the housing collapse that started a few years ago and has no end in sight.

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