I hate to see students, parents, or universities suffer, but I have to say this: we desperately needed a kick in the rear to get us to reassess our higher education system. Just as the financial markets were out of control, the student debt loads have become so obscene that $100,000 in loans now seems like a pretty good deal. (Or at least, thatâ€™s what university officials say to reassure us.)
Big Arm Woman writes on the topic:
[S]tudents are incurring huge debts in order to attend college. In order for these students to ever have a hope of a debt-free future, they have to pursue careers that will at least enable them to pay off their loans and maybe one day allow them to be able to buy a home or raise a family or travel to Tahiti, or whatever. In short, if you go to college, and you pay for college with the expectation that it is supposed to raise your earning potential, then OF COURSE you are going to be more likely to choose whichever job will help you a) pay off the college debt quickly, and b) offer a return on your investment. Right now, those jobs look to be in the public sector. Perhaps itâ€™s not so much evil avarice driving these kids as it is a desire not to spend the rest of your life in hock for a four-year stint in higher education.