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A College Education Is Not Worth The Time And Money

1964 words - 8 pages

Many college graduates are finding it hard to get jobs. The biggest issue is the amount of debt Americans are facing due to the college degree they were told they should have. Colleges have been raising the prices on everything from tuition to books. The government is giving out loans to students without even asking where they’re going to school for, or if they’ll even have a plan to pay off the debt in the future. The mentality is that corporations and business won’t hire someone unless they possess a college degree. Gerald Celente, from Trends Research Institute, says “It makes no difference to have a college degree.” (College Conspiracy Scam - youtube) He wants individuals to have minds ...view middle of the document...

College is now impossible for most students to afford without getting deeply into debt to do so. Guy McPherson, Professor Emeritus of the University of Arizona, says that, “as soon as you get out of college you’re indentured for life”. He said that students would graduate from college with little debt and buy a house, and then they would be in debt. He states that now college is the new house debt, except you don’t get the house. Apparently to Professor McPherson, going to college now and wanting a house someday is the equivalent in price to having two mortgages to have to pay for and worry about. He says college is a bad deal and for students to look for other options. Students all across the United States are abusing the loan situations. The government started getting involved with the loans and providing more ways for students to get money. Any money left over from student from private lending institutions such as banks FASA loans guaranteed by the government are sent to students either as a check or direct deposit into their bank accounts. Student loans taken out by the students that go directly to the college often have money left over that wasn’t used during the semester or school year. Any of that money left over goes directly to the student in the form of a check as well. Both ways places money, not spent on their education, right into their hands and easily at their disposal. Many students use this money for non-academic things such as buying food, cell phones, cars and apartments. Some of these “students” aren’t even going to college once they get the money. They enroll, get the check, and then drop out never to return. The 90/10 rule in financial aid is a rule enacted to keep for-profit trade or technical trade schools from recruiting only low income students or students who aren’t likely to do well but qualify for financial aid. This rule requires schools to show that 10% of their income comes from sources other than federal financial aid, meaning some colleges determine that students need to provide 10% of their costs. This law and other laws pertaining to these schools are being examined for their fairness. Private for-profit colleges have to keep raising tuition prices to stay within the 90/10 rules. The government destroyed the free market in college education. The government needs to get out of the educational market and private banks need to get back in it. The private banks need to compete against each other with lower, more reasonable, interest rates. The majority of the students today who qualify for loans from the government would no longer qualify. Nevertheless, this will force colleges to bring down their expenses in order to charge affordable tuitions or close their doors for good.
Textbooks alone have become a scandal. They’ve tripled in price over the past decade. Textbook publishers are working with college book stores to make custom text books so people can’t save money by buying them online. They make slightly...

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