Finally the truth is spoken in regards to education. For the most part education is a business about making money at the student/parents expense with no real opportunity or promise of a job or career once a person "graduates". The scare tactic of "you won't get a job without a degree" has now fallen flat on its face as millions now have degrees and ABSOLUTELY NO JOB!!!!. We are now being told from many persons and sources that college has turned out to be another PONZI scheme that the masses have fallen for. Only a select few occupations require a degree or better still specialized training...such as a doctor, scientist, engineer etc etc. So for the most part the student is doing no more than padding the pocket of the particular university, its investments and faculty that runs the university. Recently I believe it was the university of Texas that purchased half a Billion dollars in gold. WTF? And these same universities cry about not having money...obviously Texas had at least half a Billion dollars tucked away in its mattress...
Is education the next bubble?Higher learning is just an overpriced, speculative investment that typically rewards graduates with dismal career prospects, says billionaire Peter ThielPOSTED ON APRIL 19, 2011, AT 1:03 PM
PayPal founder Peter Thiel warns young Americans that shelling out for an overpriced college education is an ill-advised, speculative investment. Photo: CC BY: Jason Bache
L'Hote, Forbes, Atlantic
Billionaire libertarian businessman Peter Thiel, the founder and former CEO of PayPal, is perhaps best known as the venture capitalist who gave Facebook the angel investment it needed to really get started. But, increasingly, he's getting attention for his controversial views on higher learning. Last year, he launched the Thiel fellowship, which gives grants as large as $100,000 to 20 tech entrepreneurs who drop out of college by age 20 to pursue their own ideas. Then, in a National Review interview earlier this year, Thiel said that higher education is a "bubble in the classic sense," because education is "overpriced," something people have "an intense belief in," and an investment that's unlikely, in the majority of cases, to have a positive return. He made the point again last week at TechCrunch. Given the "financial disaster" of student loan debt surpassing credit card debt, does Thiel have a point?
No, education isn't about returns on an investment:The concept of the education bubble is based on horrifying, false logic, says Freddie deBoer at L'Hote. "To see an education, college or otherwise, as merely a way to increase the amount of money you make is a terrible corruption and fundamentally unsustainable." Increasing earning potential was never meant to be the sole purpose of education, and if it's reduced to that, we're all in trouble.
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Yet another casualty"
Well, college is overpriced: College has gotten too expensive, with state governments cutting aid to public universities, says E.D. Kain in Forbes. But let's not abandon institutations of higher learning. If needed, we should raise taxes to make public universities more affordable. "Yes, education costs money. But that money should not fall squarely on the heads of middle class kids who are forced to take out tens of thousands in debt just to attend school."
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A college education should not result in crushing debt"
And grad school is a particularly poor investment: College is still a good decision for most young Americans, but I can't say the same about grad school, says Conor Friedersdorf at The Atlantic. Grad school has become a socially acceptable way to drink beer, read, and go into massive debt in your 20s. "Upper-middle-class Americans tend to overvalue the non-financial benefits of grad school." Thiel's wrong about a lot. But at least he's "challenging the cultural assumptions that cause a lot of people to make bad life decisions."
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Is there an education bubble?"
http://theweek.com/article/index/214400/is-education-the-next-bubble
