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Wednesday, 16 July 2014

The Education Delusion

Club Orlov

[Guest post by Makeda.]

Recently I have run across a number of articles in American newspapers which emphasize the importance of higher education and reassure us that there is no crisis with the way it is being financed. The fact that such articles are written by PhDs speaks to some of the unfortunate aspects of the problem. I am probably being too kind in assuming that the authors of these articles are deluded; I could just as easily accuse them of being high-ups in a massive Ponzi scheme.

The Washington Post published recently published an article by Donald Heller, an academic and a dean, who asserted that the $1.2 trillion-plus in student loans, with a 15% default rate, is no big deal. Now, even social scientists are supposed to understand that correlation does not equal causality, while some facts he mentioned, such as the fact that college grads are more often employed than high school grads or drop outs, may just indicate that they have more active personalities, not that college allowed them to learn some special skill that made them better baristas. A college degree may or may not pay off over a lifetime, but the debt will certainly come due. While $29,000 (which Heller asserted was an average debt for undergraduate training) may seem like pocket change to an overpaid college administrator, it translates into the inability to afford food or rent for many a college-educated debt slave. Not to be outdone, the New York Times published an article about the “education debate” in which David Leonhart, a journalist of some acclaim and accomplishment, offered what many commenters saw as an advertorial for the higher education industry.

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