I think the bubble is already cracking and about to burst. If you take a look at all of the top for profit schools their enrollments have declined dramatically.
Some degrees are certainly worth the money. All it takes is simple 5th or 6th grade math, which is not done for any number of reasons.
I did the math, let me explain how it worked:
-My parents had $X saved up for me to go to college (in my name I might add, so it was legally mine)
-My dad was a faculty member at a local university which entitled me to free tuition
-I attended that school for over 2 years, for free
-I did the math that I could earn low to mid 5 figures with my degree, or make six to seven figures by dropping out and focusing on my current business I had been building
-I dropped out, and I made a ton
People are (or at least were) confused by what I was doing. I could have gone to a better school and not had a whole lot of debt. I could have stayed an extra year and a half and received my free college degree (minus the cost of books.) I did the math and it was damn simple math. Not a single other one of my friends did the math. Oddly enough, my brother did do the math and is attending an expensive engineering school for a degree in a special field.
Anyone who gets deep in to debt for a non-marketable degree is a sucker. Anyone who gets deep in to debt in order to teach that same degree to others as a university faculty member is a participant in an elaborate ponzi scheme.
There is nothing wrong with higher education. There is nothing wrong with devoting your entire life to something that will not earn you a penny. There is something wrong with elaborate and needless waste.
Technology can, and will, bring education prices back down to earth. Accreditation along with deep rooted special interests means this will take a lot longer than it should.
Some degrees are certainly worth the money. All it takes is simple 5th or 6th grade math, which is not done for any number of reasons.
I did the math, let me explain how it worked:
-My parents had $X saved up for me to go to college (in my name I might add, so it was legally mine)
-My dad was a faculty member at a local university which entitled me to free tuition
-I attended that school for over 2 years, for free
-I did the math that I could earn low to mid 5 figures with my degree, or make six to seven figures by dropping out and focusing on my current business I had been building
-I dropped out, and I made a ton
People are (or at least were) confused by what I was doing. I could have gone to a better school and not had a whole lot of debt. I could have stayed an extra year and a half and received my free college degree (minus the cost of books.) I did the math and it was damn simple math. Not a single other one of my friends did the math. Oddly enough, my brother did do the math and is attending an expensive engineering school for a degree in a special field.
Anyone who gets deep in to debt for a non-marketable degree is a sucker. Anyone who gets deep in to debt in order to teach that same degree to others as a university faculty member is a participant in an elaborate ponzi scheme.
There is nothing wrong with higher education. There is nothing wrong with devoting your entire life to something that will not earn you a penny. There is something wrong with elaborate and needless waste.
Technology can, and will, bring education prices back down to earth. Accreditation along with deep rooted special interests means this will take a lot longer than it should.