From n+1: Harris’s punch line: “[H]igher education, for-profit or not, has increasingly become a scam.” To review:
- “Since 1978, the price of tuition at US colleges has increased over 900 percent, 650 points above inflation.”
- And how have students paid for ever rising tuition? By taking out loans, federally back and hence low risk. Harris’s prediction: Here comes the education bubble!
- Lots of goodies going to burgeoning administrative class. Not many going to shrinking tenured class. Hurray for the corporate university!
- We’ve got rising student debt coupled with draconian bankruptcy policy. Sorry, son, once you default, you’re not offloading your debt.
The lessons I take from this? Don’t go into higher ed, and start looking seriously at alternative forms of education.