Universities pump out thousands of journalism graduates to a dying print media, thousands more communcations graduates when TV stations have approximately 300 openings per year, thousands more liberal arts graduates who have zero job prospects and wind up as barristers at Starbucks.
Most of these unemployed graduates have huge student loan debt and no hope of paying it back. But really, where were their parents to pull the plug on this feckless venture? Better to start working after high school than to choose a worthless major that only results in crushing debt and joblessness. The only ones making money are the universities, which keep jacking up tuition.
Sometimes this is true, but other times not. It depends very much on the liberal arts grad in question, and how much he is willing to pound the pavement. Liberal arts grads can make pretty good managers, once they've worked their way up from the mailroom.