Bursting the Higher Ed Bubble

Submitted by Kate Meersschaert on Mon, 05/21/2012 - 2:33pm.
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LADIES HOME JOURNAL

Lunch and loans...
After a particularly rousing lunch conversation, during which I practically jumped on the table shouting "death to student loan debt!" I thought I would share this particularly powerful New Yorker article on what many are calling a (current or impending) "higher ed bubble." One line in particular stands-out for me, "Still, many programs, especially those which claim to lead to high-paying jobs, use deceptive recruiting practices that both overstate graduates’ employment prospects and understate students’ financial obligations." Does this sound familiar? Sub-prime mortgages anyone?

Instead of signs in your yard...
Duping students to believe that they too will get a piece of the "American dream" through loans seems especially egregious, as many of these students are underage when they decide on this expensive piece of the American education pie. This time, instead of an adult seeking a house, the promised "dream" is simply an education and a job. Now, in lieu of millions of foreclosure signs in yards, we have millions of freshly graduated career seeker's profiles floating across the internet. Equally sad, though luckily for those most at fault, much less visible than a stake in the ground.

Read more here.