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Isn't this just basic supply and demand? There are more students trying to go to university now than there were in the 70s. It's basically become the next versi

Isn't this just basic supply and demand? There are more students trying to go to university now than there were in the 70s. It's basically become the next version of high school socially (and, sadly, also academically in many cases). What we need is a culture that respects people who want to just work at a factory, a big box store, a mall, whatever, without pushing them into doing something they don't want to do (school). Trade schools also help in this regard. I actually believe we need more push towards trades like plumbing, hvac, and carpentry rather than having more degrees in over-filled areas.

danpat 13y ago
The demand is artificially inflated by the ready availability of loan money. Many loans cannot legally be denied. This removes what otherwise would be a barrier to frivolous spending.
- theorique 13y ago
  And, on the flip side, the loans cannot be discharged through bankruptcy. Therefore, there's a huge incentive on the lender's part to make such a loan. (Similar to NINJA loans and liar loans in the mortgage banking crisis of a few years ago.)
- Crake 13y ago
  Well, the most you can take out is $5,500 as an 18 year old. They're more than happy to legally deny you any other loans if you don't have the support of a rich family to cosign some private ones for you.
wpietri 13y ago
That would be true only if supply were fixed. Many more people want computers now than in the 70s, but prices are much lower.
- theorique 13y ago
  Supply at the top end is fixed. More and more people want to go to Harvard or Stanford, but it's not as though the supply of super-elite colleges has expanded. What seems to have expanded most is a means of getting a generic "college degree". Compared to that time, there are a lot more low-end places which will accept people with a checkbook (or federal student loan) and a pulse. Also, you can even acquire the knowledge associated with a degree, but without an actual diploma (MOOCs, online learning, etc).

danpat 13y ago

The demand is artificially inflated by the ready availability of loan money. Many loans cannot legally be denied. This removes what otherwise would be a barrier to frivolous spending.

theorique 13y ago
And, on the flip side, the loans cannot be discharged through bankruptcy. Therefore, there's a huge incentive on the lender's part to make such a loan. (Similar to NINJA loans and liar loans in the mortgage banking crisis of a few years ago.)
Crake 13y ago
Well, the most you can take out is $5,500 as an 18 year old. They're more than happy to legally deny you any other loans if you don't have the support of a rich family to cosign some private ones for you.

wpietri 13y ago

That would be true only if supply were fixed. Many more people want computers now than in the 70s, but prices are much lower.

theorique 13y ago
Supply at the top end is fixed. More and more people want to go to Harvard or Stanford, but it's not as though the supply of super-elite colleges has expanded. What seems to have expanded most is a means of getting a generic "college degree". Compared to that time, there are a lot more low-end places which will accept people with a checkbook (or federal student loan) and a pulse. Also, you can even acquire the knowledge associated with a degree, but without an actual diploma (MOOCs, online learning, etc).