An Unlimited Supply Of Borrowed Cash Is Destroying Higher Education

Rebecca Kathryn Jude and Chauncey M. DePree, Jr:

“You have to go to college” was an article of faith when we were growing up in poor families. Now we wonder if our ticket out of poverty still has the same value. Far too many of this generation are leaving college with substantial debt and few meaningful job opportunities.

Put a little differently, what is the value of a bachelor’s degree in women’s studies or sociology or any other fields that are not science, technology, engineering, mathematics, or business? Ask some of the young people working at your local coffee shop or favorite restaurant. They will probably tell you, “not much.”

The problem has become so overwhelming that politicians are talking about “free” college and “forgiving” college debt. It sounds good. The truth is that these proposals are a disaster in the making because they ignore the root cause of out-of-control costs of higher education.