The Higher Education Racket

bloomberg.com reports, "This Student Debt Relief Program Will Cost Taxpayers at Least $39 Billion... Borrowers hold $1.2 trillion in federal student loans, the second-biggest category of consumer debt, after mortgages.."

As If Local Taxpayers Aren't Already Enough On The Hook For K-12
There are a number ways colleges and universities can supersize the cost of education. SEE MY PREVIOUS POST: "Going To College? Better Have a Fat Checkbook!"


If we were to be truly honest with ourselves most degrees could be done in 2-3 years instead of 4. College kids have lots of free time which could be put to better use. This would cost them from 25% to 50% less then dragging this out over four years. We could also eliminate the number of required unnecessary courses that may have little to do with their chosen course of study.

Indeed some do double their course load, but colleges still require a number of unnecessary courses adding to the expense as well as undo pressure.

I'd favor a more al la carte type of approach that could still lead to degree.

It makes little sense to take basket weaving in order to accumulate the necessary credits needed to graduate in the fields science, medicine, etc.


Every year spent in college is one more year someone isn't earning money. This would benefit society as well. For one or two more years workers would be paying taxes into government programs at all levels. This at the same time reducing the costs related to student borrowing to not only those going to school but taxpayers as well.

In my view higher education has become somewhat of a racket. Colleges and universities tend to drag education on as long as possible. So too relying more and more on government (taxpayers) support.

Free Education For Those That Deserve It
If we really are serious about fostering greater education we need to educate those who are the most serious and ambitious. Colleges should make education cheaper (if not free) for those who maintain the highest grade levels.

For those who are just there to camp out on campus for the sake of doing so, let them pay for it themselves w/o mercy. We need to change the way we do things. Higher education has become an industry unto itself. This needs to change if the United States is to outdo our competition coming from the rest of the world.



College should not be a four year camp away from home. It should be is a opportunity for the best, brightest and most ambitious among us to enter the work field as quickly in the most economically way possible. Does anyone truly believe under the present system higher education meets these goals?