Tuesday, March 9, 2010

Higher Education is on Dangerous Grounds

Kollege Kockup: Something Is Not Right In Higher Ed

Uncle Sam is the inflationist in chief...

The pain of deflating this bubble is being felt most acutely in the California public university system, where an impossible mandate (to provide a free, quality college education to everybody) can no longer be sustained, but where the consumers have been so completely shielded from actual costs for so long that the only real solution is for the system to collapse. But the whole country is headed in that direction, for better (if you're a student) or worse (if you're a flunky). Mish Shedlock concludes in his woolly way:

Funding schemes, loan guarantees, influence pedaling, and especially government meddling have combined to make education a great deal for recruiters, administrators, professors, and staff.

Unfortunately, there is little benefit to the students for the price they pay. Indeed, the biggest education many students will receive is to learn how compound interest combined with poor salaries will make them a debt slave for life

via instapundit

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