Wednesday, November 10, 2010

Evidence of a higher education bubble

The NY Times is running a story about for-profit universities (e.g. DeVry, Phoenix, and Kaplan). Recent investigation by the Government Accountability Office revealed that many of these schools promise unreal or blatantly false results. Undercover investigation found recruiters promising jobs with the CIA or FBI at $40,000-$50,000 a year for recent grads of Kaplan. Many former workers at the universities are policies focused on securing federal loans and grants targeting gullible students for degrees which wont pay off.

I really think that there is an education bubble. There are just too many degrees out there that don't get you anything. The article keys in on recruiters focusing on recruiting students with low self-esteem and difficulty living situations. A lot of the ads that I see locally focus on turning your life around. As someone who worked fulltime at a fast-food restaurant before I decided to go to college, I will attest that a degree really can change your standard of living. But you don't see the University of Minnesota ads sandwhiched between two personal injury ads promising cash after your car accident.

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