3 ms·
Not yet, but it's on the horizon. The current model of student debt for a degree which conveys little to no advantage in the job market is unsustainable. Once
by nugget 11y ago
Not yet, but it's on the horizon. The current model of student debt for a degree which conveys little to no advantage in the job market is unsustainable. Once it starts to turn the deflation will be rapid and impactful. Not only does higher education employ lots of people (funded by student debt) but also keeps millions of hard working 18-25 year olds who would otherwise need jobs, out of the work force.
- Qwertious 11y ago"The current model of student debt for a degree which conveys little to no advantage in the job market is unsustainable." I don't mean to be a smartass, but https://en.wikipedia.org/wiki/Conspicuous_consumption https://en.wikipedia.org/wiki/Conspicuous_consumption
- nugget 11y agoHarvard and MIT - sure. But what about the millions of people who went to schools that no one has ever heard of, or for-profit schools like University of Phoenix? In addition to that. Do you see the broad concept of conspicuous consumption increasing or decreasing? All of the signals I see show it decreasing thanks to the great recession and the new generation coming into the market. Dave Ramsey, MMM, et al have started to make it trendy to be frugal. Once it starts to become trendy to go to vocational training or straight into the job market a cultural shift can happen quickly. Because of its combination of white collar income/career attributes and vocational like self-training nature, I think Computer Science will be at the forefront of this trend. Note how few people advise ''go back to school and get a degree in computer science'' and rather ''learn how to code'' (boot camp, self taught, however possible).