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I live in a college town and have witnessed and noted first hand many of the things you mention. College administrators are very happy to help young naive people sign up for student loans they will not be able to afford, in part because the degree they receive is of no value in the real world, yet the students are told they are guaranteed to make 70% more than those with only a high school education. (A credit counselor recently rolled her eyes when I made this comment when discussing the idea of me going back to college; I said it jokingly.) As has been mentioned, student loan debt is one of the big bubbles out there, and that is what is supporting my town, a huge debt bubble. And guess who is going to be left holding the bag? The taxpayer. They even created a million plus dollar office intent on forcing through a new tax especially for "higher education."

But the unfortunate truth, corporate America values these bogus college degrees more than they do knowledge and intellect, as demonstrated by the fact that I was once told I wasn't qualified to do my own engineering job anymore, because I hadn't paid for a fancier piece of paper. Someone in HR, obviously with a college degree, decided my job required a college degree, even though colleges didn't teach what I knew. Others have experienced the same. A piece of paper, is of more value than knowledge and skill, in America today. Yes, the decline of an empire.

More incentive to move to a 3rd world country.

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