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Saturday, May 29, 2010

We are so thrilled that Johnny got accepted to Brown to study Gender Studies

A story about college student loans abused, misused, wasted and ultimately paid for by taxpayers.

The article is wrong about it being difficult to walk away from student debt. Under the recent health care legislation a new provision allows former students to walk away from their student debts if they have not paid them off in 20 years. And then it is up to you and me. However even before this legislation the number of defaults on these loans was growing steadily and you and I picked up the tab anyway. But here is the most glaring void in this article: There is no mention of what this former college student learned? What did she study? It really does matter if one gets a degree in sociology, ethnomusicology, gender studies or in electrical engineering.

There are no jobs (zero, zippo, nada, can I say this another way) for psychology graduates today. And no one wants to talk about it. You might land the same job at Home Depot that you could have gotten prior to college (but there are times that it will actually be harder to land a basic job with a non-practical degree). The world is not hiring anyone today based on their Medieval History degree.

Parents are so thrilled that Johnny is heading off to college that they do not want to “discourage” the poor lad from studying an obscure subject for six years even if it almost certainly means he will end up living back at home and unemployed. It is simply not polite to ask Johnny’s parents what they are thinking. I am not very polite.

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