The worth of a college degree has now come into question because of the massive student loan bubble. An education is vital yet the monopoly on knowledge has been turned upside down with readily accessible information through technological changes.
Economy and Finance
The Inevitable Pop of the Student Loan Bubble
The worth of a college degree has now come into question because of the massive student loan bubble. An education is vital yet the monopoly on knowledge has been turned upside down with readily accessible information through technological changes. What is odd however is during a time of knowledge access ubiquity you have a field sprouting up of institutions that simply target the unknowing with promises of degrees that yield worthless marketable prospects. Many for-profit colleges fit in perfectly with the financialization of our nation. The main goal is to draw in a large unsuspecting audience and saddling millions with unsustainable amounts of debt for a piece of paper that has little worth in regards to career aspirations. Like the subprime mortgages pushed by lower levels of the financial industry only for quick profits, many of the for-profit colleges have done very similar things to the prestige of a college diploma. When a list of cats and dogs with college degrees is listed on Wikipedia we know there are serious issues in how some for-profits operate.
The for-profit college model
Although for-profit institutions make up a small segment of the college going population, they make up a large portion of the private loan market:
Source: Project on Student Debt
“Students attending for-profit schools composed about 9% of all undergraduates, but 27% of those with private loans.”
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