In the last post Chris talked about Education versus Schooling, and why he wanted his kids to travel, explore, try, fail and succeed, versus going (at least directly) to university when the time comes. His reasons have less to do with affording the education, and more to do with its overall utility.
There are certainly those careers that necessitate a university education: Doctors, lawyers, engineers, researchers and those that just feel the need for a PhD in something.
Although, as was recently (and painfully) demonstrated on Peter Schiff’s radio show, even esteemed “academics” who have reached the pinnacle of their profession, in this case two recipients of the Nobel Prize in Economics, don’t seem to understand how their work applies in the real world, or if it even has any value in assessing current events. At least that’s how I interpreted it.
So, while we may not see as much value in a university education as some, there are certainly situations where it is necessary. Despite our opinions, most of the high school graduates in the United States who are qualified to do so, will find themselves attending university as their next step.
What awaits them, other than keg beer, uninhibited co-eds and Saturday mornings they wish they could forget, are the “realities” of the expense involved. Unless mom and dad are footing the bill indiscriminately, they’re going to have to figure out a way to pay for it themselves.
The impending “student loan bubble” crisis has been all over the blogosphere lately. One of our favorite sites, Zerohedge.com, has provided excellent coverage, and we encourage you to review their most recent post on the subject.
Meanwhile, one of our readers sent us an excellent graphic that he created over at HealthcareAdministration.com/college to demonstrate the parasitic nature of the student loan “scam.” We think it’s worth sharing here with you…
Have a great weekend!
“Education… has produced a vast population able to read but unable to distinguish what is worth reading.” – G.M. Trevelyan