Clueless millennials and Zs borrowing $200k for a degree in queer studies are SHOCKED to learn that they are unemployable.
Circa 1966 I was a roughneck during the summers on the drilling rigs. I made about 800 dollars a month. That is about 7200 dollars today. It was hot dirty and dangerous work. I worked 12 hour tours for 8 days and then 4 days off. In effect my work week 64 hours averaged through the month.
I was grateful for the job. With these earnings I could pay for two semesters of college, room and board. This is impossible today. The reason it is impossible is the vast amount of federal loans to students. The universities have no motive to keep costs low when they know the Federal Loans will subsidize their economic malfeasance.
Case in point is the administrative building was 1/3 of the chemistry building of perhaps 30 offices. Today the administrative building is a 3 story behemoth easily 10 times the size with a student population it serves about three times the size in 1966. I find the new ratio odd.
Academia is a vomitorium of Marxism.
Bfl
Apparently there has been a drastic decline in enrollment for the past few years. Many colleges are going have to lay off the dead weight to survive. DEI admin will be the first to go.
The reform is simple, do away with Federal Guaranteed Loans, shut the program down. Go back to Student Loans made by private banks and such. Costs would drop fast and a number of colleges would simply go out of business. The real value of a College Degree today approaches ZERO.
No one ever mentions what happens to the FUTURE STUDENTS DEBT!!