<p>This article, the first in a series, is written by Gary Shilling , a noted Economist.
It summarizes the many financial problems that have resulted from the push to have as many students in this country as possible get a college education. </p>
<p>"The recent flare-up over huge student-loan balances, especially among jobless recent college graduates, is exposing deep flaws in the way higher education is financed."</p>
<p>Higher</a> Education Needs a Financing Overhaul - Bloomberg</p>
<p>Agree. I think many of the online and lower end college degrees are no longer worth much if anything at all-if they ever were. Past data on college earning bumps do not differentiate between good degrees and worthless ones. Now even good degrees are under some pressure and lousy ones should be worth less if not worthless for many. many would do better with some 1-2 year tech training.</p>
<p>If colleges were required to provide standardized career outcome surveys of graduates by major, that may help.</p>
<p>Could have been rewritten as </p>
<p>“The recent flare-up over huge student-loan balances, especially among jobless recent college graduates, is exposing deep flaws in the way higher education OPERATES.”</p>
<p>Access to education is an issue, and so is potential return on investment. However, those problems are dwarfed by the impossibility to allow higher education to remain on a runaway train in terms of controlling expenses and offering sinecures to faculty and staff. </p>
<p>Watered down education at exorbitant prices is part of the problem of a higher education system that has forgotten the meaning of … educating. It is all about doing the least amount of work for the maximum benefits.</p>