THE GREAT US EDUCATION SCAM – I don’t think it will ever cease to amaze me how gullible some people are and the fact that they berate the Government for all their lies and yet despite the fact that the truth is obvious they not only don’t want to hear it they don’t want to acknowledge it either.
From the moment our kids are old enough to comprehend basic sentences and phrases we continuously instill into our kids that they must, at all costs, get a good education.
Video Note: Is this the real truth behind the US education system and if so what chance do our kids have for a prosperous future?
A good education, according to our way of thinking, is the Holy Grail to obtaining a superior job that creates wealth. This will, according to Government and parents, allow our kids to afford the better things in life and furthermore allow them to afford to put their own kids through college and university.
Unfortunately the truth is that kids are becoming lazy and worst of all expectant on what their college certificate or university degree will afford them in life. Kids in the US are leaving school with little or no real education to prepare them for the real world and yet despite this fact they expect to land high paying jobs where they are required to do very little for the money they earn.
Two months ago I undertook a little experiment. I contacted the Journalist faculty at Berkeley University and made an offer for students to write for Meebal.com. The idea was to provide them with some experience and find a few dedicated potential candidates to join Meebal.com. While the faculty head was more than willing to tell the students of the offer not one took my offer up and this is because they simply didn’t want to work for nothing.
It could be said that the idea of working for nothing is not a very attractive one but what I was offering was exposure to real readers and let them judge the articles written and yet it appeared not to occur to any of the students that this was a real opportunity to connect with people and gain some very valuable experience.
If I had a choice of employing someone who was hungry for success and willing to prove themselves but didn’t have a degree, compared to someone fresh out of college with their papers in hand, I would choose the first candidate in a heartbeat. The degree for me is worthless as they simply do not have any real-world experience and they are expectant that their piece of paper entitles them to a job.
The real problem with the education system today is that it is all based on lies and as more and more kids give up the prospect of work and experience to go to college the college degree is becoming worthless to a potential employer.
While the rest of the economy is heading to the edge of the abyss faster than a speeding bullet, the only two sectors of commerce seeing a rise in profits are Education and Healthcare.
Since the 2008 Wall Street Crash the cost of educating our kids has risen by over 5% annually, while real estate values have fallen by 26% annually and the Dow Jones continues to see an annual loss of 18%.
It is now the mindset of parents, through indoctrination by Government that our kids must go to college or face being left behind in the poverty gap and yet it is the rising cost of education that is actually increasing the poverty gap due to the vast debt that most students leave college with.
The average cost of a college education, over a 4 year period, is approximately $120,000 and that’s just the tuition fees alone. Add to this the cost of living, books and accommodation and the average student leaves college with a loan debt in excess of $200,000; so before they have even begun their working careers they are faced with a mortgage like debt that they can never expunge.
One of the biggest failings in US education today has to be the teaching itself – frankly it is worthless. Students are no longer taught to think ‘outside the box’ to be creative; they are merely taught to regurgitate text from books.
Is it little wonder why thousands of graduates are now struggling to pay back the massive student loans they have accumulated considering so many of them end up working in fast food chains serving customers.
I once nearly made the biggest mistake of my life. I used to constantly talk to my son about bucking up his ideas and think about his education. Like any parent I wanted him to be successful and I always used to joke that if he didn’t excel then the only phrase in his working life he would ever utter would be “Do you want fries with that?” Fortunately my son ignored me, got a job, and is now able to afford a mortgage and a car payment without any financial difficulties. It is unlikely he would have been able to afford either if he had gone to college and accumulated massive student debt loans.
When you look at the debacle of education in the US today and think of all the college kids working fast food joints you have to ask yourself – where did their college degrees get them?
A college degree is no longer a guarantee or a passport to a prosperous future and in fact with industry almost dead in the US the service sector can no longer support the number of college graduates.
Currently the total student loan debt in the US amounts to over $800 billion; which outstrips national credit card debt considerably. This ever increasing debt is creating another ‘bubble’ but instead of it being housing, its education with student loan debt. Many feel this is a growing problem in which there is simply no escape and as more and more students attend college the degrees they walk away with become less valuable due to the basic economic principles of ‘Supply and Demand’.
Currently the market has little demand for college graduates and yet the supply coming out of schools is increasing by over 50,000 a year. This in turn makes the degree worthless; if everyone has a degree where is the value?
The US currently has over $16 trillion dollars of debt and a shrinking manufacturing sector. Without exports the US will simply sink further into debt with the internal service sector. The answer to the decreasing export market results in the Federal Reserve printing more money to pay off the national debt which in turn devalues the dollar and increases the debt.
The solution could be to teach our students more about the ‘free market’ and ‘free enterprise’. The US needs to become more productive and start making things. If you look closely at the richest individuals in the US today they mostly have one thing in common – they dropped out of the higher education system as they realized the true value of education lay directly in real world experience.
Another solution is to impose a ‘free market’ system on higher education providers so that they can openly compete with one another to gain students. The competition would drive down the costs of education and in turn reduce student loan debt.
There is little doubt in my mind that we have been conned into thinking that a degree will provide us with the ultimate meal ticket and yet all it has achieved is saddling us with more debt and as the country heads towards hyper-inflation there may not be a way out.
What are your thoughts? Have you left college with a massive debt you are struggling to repay? Leave your comments below.