College Education: The Largest Scam in U.S. History

College Education: The Largest Scam in U.S. History

May 16, 2011

SHTFPlan.com - College education is big business, and with easy Federal loans, prices for everything from tuition to text books is going through the roof. Once degreed, the majority of college grads are ill-equipped to handle the current marketplace. Many of those who entered college just five years ago simply can’t find work in a 21st century economy that’s imploding on all sides. What college grads are left with are massive loans that can’t be repaid and a room in mom and dad’s basement.

This latest video from the National Inflation Association should be viewed by parents and potential college students alike.

At one time, college was an investment. Today, it’s become, as one interviewee in the documentary suggests, indentured servitude.

For parents and teens looking at colleges, we suggest taking a close look at the amount of money that will need to be spent and borrowed, compared to the benefits that will come out of the degree pursued. Thirty years ago, a bachelor of business would have been a desired degree to hold. In an economy with over 20% unemployed, one must ask: how many business administration and management jobs will there be four or five years from now, especially if we continue to lose production capacity to cheap foreign labor.

If you’re dead set on sending your kids to college, or you yourself are preparing to enter higher education, look at the future to determine what you should be learning. China will be the leading economy by the end of the decade — perhaps consider becoming fluent in Chinese. Seen the prices of commodities lately? With monetary printing, a growing global population, and the possibility of major weather changes (natural or man made) we suggest take a close look at careers in resource-based (food, energy, water) industries.

Most importantly, prepare your mind for a post-college environment where, rather than finding a job for someone else, you are able to invent your own.

For those who have chosen to avoid college, perhaps the best route to take is some type of modern-day apprenticeship in a field that will thrive during a recession or depression. Learn to farm, to purify and treat water, carpentry, metal works, and other jobs that produce physical goods needed by society. You may not end up being rich (but you might), however, you’ll be much better off than the guy in the basement with no idea about what to do with a degree an employer could care less about.

Watch College Conspiracy:

63 Percent of College Presidents Think Students Should Pay for Education

May 16, 2011

The Lookout - College presidents and the American public have very different ideas about who should pay for college and whether higher education is a good deal, a new Pew Research Center study finds.

Almost two-thirds of the presidents of public and private four-year and two-year colleges say that students should pay for their own education.

Meanwhile, less than half of members of the general public agrees with that assessment, with a majority saying either the federal or state government, private donors, or a combination of those should pick up the largest share of a student's college tab.

Perhaps this reluctance to pay is due in part to a widespread belief that colleges are ripping people off. Nearly 60 percent of Americans say the U.S. higher education system is not providing students with a good value. And 75 percent of Americans say college is financially out of reach for most people.

Three-quarters of college presidents, on the other hand, say college is a good or excellent value, and 42 percent of them say college is affordable for most people.

Terry Hartle, chief lobbyist at the American Council on Education, tells the Lookout that there's a simple reason college presidents and the general public are so out of sync.

"I think the reason that college presidents think college is more affordable than the general public is that college presidents are acutely aware of how much money is going into student aid each year," he says.

Hartle also points out that 25 years ago, when college was much cheaper on average, 60 percent of Americans said higher education was unaffordable for most people.

It's true that the sticker price of college has nearly tripled since 1980, even after costs are adjusted for inflation. Advocates of higher education, like Hartle, argue that grants and financial aid have filled that gap--but economists have found that the average family is paying a higher percentage of its income to finance college than it did 30 years ago. Families in the lowest 20th percentile of income have found college more financially out of reach over the same period, suggesting that financial aid has not kept pace with ballooning costs.

Meanwhile, six in 10 college presidents say students are less prepared for college and study less than their counterparts had 10 years ago. Their pessimism is borne out by research. A comprehensive study finds college students only study 12 hours a week on average. And a 2008 study found that one-third of college students are enrolled in pricey remedial courses because they lack proficiency in basic math or reading.