College is no longer a value proposition, and a lot of graduates come out stupider than when they went in. From John Stossel at townhall.com:
It’s August. Many young people head off to college.
This year, fortunately, fewer will go.
I say “fortunately” because college is now an overpriced scam.
Overpriced, because normal incentives to be frugal and make smart judgements about who should go to college were thrown out when the federal government took over granting student loans.
Why?
Because our government basically vomits money at everyone who applies.
If private lenders gave out the loans, they’d look at whether they were likely to be paid back. They’d ask questions like: “What will you study? You really think majoring in dance will lead to a job that will pay you enough to allow you to pay us back?”
Government rarely asks these questions. Bureaucrats throw money at students. Many don’t benefit. Many shouldn’t even be going to college. Today, nearly half of the students given loans don’t graduate even after six years.
Many feel like failures.
