RE: Where else can you find such a large machine that regularily craps on its customers and demands more in return?
The even more interesting question is this — why are the number of customers INCREASING and NOT DECREASING? And why are they going into DEBT to pay for the crap?
Teens are conditioned in school to think that college is the only possible path. Also with the Baraqqi Depression still in full force, the number of jobs is minimal so borrowing "free" money and heading off to school is an easy choice.
College enrollment is increasing, IMO, for these reasons:
* No shop school or vocational programs in high school, so kids have to pay for it in “college”.
* College is seen as the only way to provide minimal vetting of applicants, so employers look for a degree, any degree, in applicants. This in turn drives many parents to send kids to get a degree, in an effort to ensure they can get a job.
* Many employers pay more to those who have degrees or higher degrees. School districts tend to offer a specific step up in salary upon completion of a master’s degree. Some employers automatically step up pay on completion of an MBA.
* We let kids go to school with no idea what to do with themselves. We assume that if they go to college, they’ll find themselves a career path, potential spouse and life goals. Unfortunately, they spend years bouncing between majors instead of being counseled and shepherded to a degree program that fits their talents and goals. Wasted time in school, but school gets lots of money. Those that run out of money don’t get a degree but do get stuck with debt.
* College is treated as a shelter from the unemployment line. In some states, you can get unemployment while taking classes instead of looking.
* In millions of cases, college is an excuse for a gap on the resume. “What did I do for that year and a half? Oh, I finished my degree / earned a master’s / took more classes on XYZ.”
* Keeping skills and job credentials to date often requires earning new credentials. Ask the lawyers, nurses and engineers who are required by law to take so many hours of continuing education courses in order to keep their licenses.