Investment Watch Blog (IWB)
June 23, 2017
Why would one go to college these days?
College degrees are becoming close to useless these days, as young Americans continue to rack up debt
with little to no hope of paying it off. Our universities today have become liberal utopias, where the
students run the show and can get away with whatever they want in their never ending search for that
Jonathan Newman recently compiled some stunning revelations of the current state of college in America
today in the Mises Wire.
First of all, graduates are not learning, how to think better in college, so what is it, they are doing
According to The Wall Street Journal:
“At more, than half of schools at least a third of seniors were unable to make a cohesive argument, assess
the quality of evidence in a document or interpret data in a table.” The outcomes were the worst in the
biggest flagship schools: “At some of the most prestigious flagship universities, test results indicate,
the average graduate shows little or no improvement in critical thinking over four years.”
That undergraduate degree is not as necessary in today’s workforce. Skills are more vital, than degrees.
One example of the free market adapting to a college degree’s devaluation is
Google not caring, if potential hires have one or not. They look past academics and focus on other
characteristics, that better predict job performance.
Another reason, college should be steered clear of, is the fact, that shouting matches by students with
nothing else better to do have invaded campuses nationwide. And they are silencing any conservative, who
dares speak their mind.
In nearby Evergreen State College here in Washington,
student protests hijacked classrooms and essentially took over the campus. The college president’s
response to it was laughable, as protesters took over the administration offices last month, disrupting
other classes along the way. The threats of murder led to the campus closing for three days. The students
call a very progressive educator a racist and a white supremacist. Their madness knows no bounds.
Trade schools and self-study are also proving to have better outcomes for many young men and women in the U.S.
Dropping out of college is not the end of the world. Many successful business owners left school to pursue
their passions and turn their dreams into reality. Trade schools require less time and money and the graduate
ends up with a very specific set of skills, that employers are looking for. Many times these well-prepared
trade school graduates far outearn their four-year degree peers.
And the final reason, why a college degree is useless, is, that it is simply not worth the cost. Tuition
has been skyrocketing along with student loan debt, but future earnings are actually decreasing, as more
Americans are earning less, than their parents, as the American Dream fades from reality.
A recent Wall Street Journal (WSJ) article dug into the consequences of this financial reality. Tuition
keeps climbing nationwide, but prospective earnings are far from keeping up. There are differences in different
schools and across other majors, but the overall trend shows, that the returns to a four-year degree are decreasing.
Students are borrowing and not putting any collateral down. They are also not making enough money to pay back
these massive loans. Total student loans have now reached $1.3 trillion here in the U.S. Guess, who will be
stuck with this bill when it comes due? You got it…, the oblivious taxpayer.