Universities are turned from providers of education to business ventures that strive to be the biggest and the best providers of the “college experience”. From less rigorous curriculums to higher tuition prices, the universities have changed the way people think of education. Students are now consumers and university presidents are CEOs overseeing multiplexes of the college experience.
College Graduates are trapped in debt until death
Students are taking out an average of about $37,000 in student loans. The overall student debt in the US has now surpassed $1.5tn and in Europe it is increased to around £100 billion in 2016-17.As educational institutions, have lost public sources of funding over the past 50 years, they’ve turned to other methods of acquiring funds such as high tuition, room and board prices and assorted fees Basically, students are taking a subsidy, which is student loans and using that to fuel university’s growth and ultimately ending up with the burden of paying for all that back and forth. Students who are paying the bill view themselves more as consumers rather than pupils who are undergoing a learning process.
For example – University of California at Berkeley, in Reagan’s home state: in 1960, tuition was free for a California resident; today it costs $12,872 with an additional $14,414 for room and board.
Student loan debt is now the second highest consumer debt category and defaults are at more than 40% of debtors and rising. Student debt is the only debt that can’t be removed through bankruptcy. Students are trapped in debt until death as the debt continue even after bankruptcy. In fact, student debt collectors can garnish wages, seize social security and take assets from estates to repay the debt. People are fleeing the country and even committing suicide because of this predatory debt. At present 27 million people are unable to pay back their loans and are in default or in arrears in some way.
College Graduates have been cheated out of good jobs
The unemployment rate is not going down and the available jobs in market require students to be expert in the latest technologies which is not taught efficiently is colleges.38% of recent college graduates are unemployed and 40% are underemployed, holding jobs that are normally held by high school graduates. When they graduate, and end up making just as much as they could have had they never gone to college in the first place, it is finically devastating. College graduates are part of the only age group with lower average wages.
Colleges have stopped producing people with the skills that current market demands as almost the entirety of corporate profits are being spent on stock buybacks to enrich executives and shareholders, rather than on job training.
Education system is designed to dumb down instead of enlighten the students
Colleges have funded and exported an institutional academic system that serves as a behavior modification camp responsible for dumbing down young adults and turning them into obedient, non-thinking worker bees. Colleges have very well promoted the lies they wanted the masses to embrace such as the myth that to get a good job, one must have college degrees. The idea behind the education institutions was to develop students with various skills like communication, leadership, teamwork, problem solving, emotional intelligence etc. However, what is now being monitored and advocated is test scores in various subjects. In this academics-oriented system, content is simply memorized, spewed out for an exam and then quickly forgotten. We are born curious, but by the time students arrive in Grade 10, they have all but lost their curiosity.
The main thing that students need to know is not what to think but how to think in order to face new challenges and solve new problems.
Conclusion – With the education system turning in to business, the focus should be on self-reliance. One should not run behind the expensive and worthless college degrees and get trapped in debt until death, given the fact that these college degrees are incapable of fetching the jobs in the present, forget about the job security in future.One can choose to become experts in various sectors like fitness experts, martial art experts, divers, mechanics, agriculture etc. and earn good wages as there is always going to be the demand in these sectors. Parents should invest on purchasing a piece of land rather than investing $100000 -$300000 for student loan as the in near future artificial intelligence and increasing automation is anyways going to decimate middle class jobs.