The College Degree: Scamming America

The college degree is the most lied about thing in society. Everyday people in the school system across the United States lie to the youth and brainwash them about the experience and journey that a college education is.  It’s sold to people as an investment in yourself and your future.  Writing these very statements is putting me on the verge of vomiting all over my key board. People get militant about what I just said. They freak out and start to yell out insults. These so called highly educated sophisticated people and educators instantly become angry animals. Why you so mad son?

The reason these academics freak out is because they know what they are doing is a fraud. When the facts about the situation are shown there is absolutely no defending their piece of shit pitch. It cannot hold water.  The truth is so scary when the numbers get put out there.  Currently 40 percent of recent U.S. college graduates are underemployed or need more training to get on a career track. Roughly 34 percent have student loans of $30,000 or less, while 17 percent owed $30,000 to $50,000. These are averages which is scary because it shows the aggregate cost is extremely burdensome.

The sad part is these kids are told in high school they need to go to school to be successful. They will be the dregs of society because they do not have a degree. Students are discouraged to attend trade schools because it does not count toward the schools statistics of how graduates attend college. Now in this country, while an employment crisis amongst college graduates builds, simultaneously there is a huge demand for trade jobs. Companies cannot fill high paying trade jobs. There is a demand for welders, machine tool operators, electricians, boiler makers, and the list goes on. The shortage is only growing because 60 percent of these jobs are held by people who are 45 years or older. The demand is only going to grow The median wage for the skilled trades we’ve focused on is $20.25 an hour. Let me breakdown what median means if that went over your head. If you took the highest and lowest paid workers that would be the wage paid to the person dead in the middle. That means the person who is the middle of the road worker makes 20.25 an hour. That means there is only room for advancement and pay increases.

Beyond the employment situation and the misallocation of human capital going on, the people who decide to go on to college of good quality are saddled with that debt burden. The New York Federal Reserve Bank recently just released numbers of college graduates and how their ability to obtain auto loans and mortgages is dropping because of poor credit scores. The student loan debt is lasting into their 30’s at relatively high levels impacting their credit worthiness.  The age of one who possesses the ability to obtain auto loans or mortgages is only growing older and older. Now it’s just not affecting the job market but now actual commerce.

The point here is not to say a college degree is a useless piece of paper. All the degree represents is a tool in what it is you want to achieve. People need to determine what their goal is going to be and the direction they wish to take on in their life. Certain occupations and vocations require it, some don’t. The issue here is that its sold as an investment with an extremely high cost and it does not repay anything back to you. The quality is sub-par and the cost is overblown. Also, student loans are completely subsidized by the government and are the only form of debt in the United States that cannot be wiped out in bankruptcy. So these people “get theirs” folks. They have been put in a class of their own that says they are somehow better and above other people, businesses or entities in this country. They will always get their 100 cents on the dollar, not a penny less. These colleges make Bernie Madoff look trustworthy.

He Hate Me

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