The Higher Ed Scam

As I pointed out Monday, there is a clear correlation between income and college degrees. In particular, certain graduate and professional degrees carry a punch. But, to be fair, certain undergraduate degrees do not. In fact, it’s pretty clear to me that certain degrees from certain colleges are basically a waste of time, or worse if one considers the high cost of attaining the degree, including lost opportunity cost.

Thus far, the high water mark in the U.S. for undergraduate education was 2010, the same year I assumed the presidency of a small liberal arts college. Since then, overall undergraduate enrollment has dropped by 6.6 percent. But just look at what student-loan debt has done since that time:

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