Posted By Jennie Chancey on May 21, 2011
From the NY Post yesterday:
Amid all the uplifting clichés at their commencement ceremonies, graduating col lege students won’t hear a line applicable to some of them — you got ripped off.
Student debt just surpassed the country’s credit-card debt for the first time. It is projected to top $1 trillion this year, according to The New York Times, when it was less than $200 billion in 2000. For the class of 2011, the mean student debt burden is nearly $23,000, up 8 percent from a year ago.
There’s no doubt that graduating from college brings a significant economic advantage, but that doesn’t excuse the waste and self-satisfied lassitude of US higher education. Colleges appropriate tuition dollars from America’s students with an ever-accelerating voracity, yet don’t deliver any more educational benefits — indeed, they do the opposite.
What are students going into hock for? In their book “Academically Adrift,” Richard Arum and Josipa Roksa sift through data that only Bluto Blutarsky could relish.