N+1 Magazine on the Education Bubble
Many of the thoughts in today’s link have been summarized in other articles I have posted, but I find this link from N+1 Magazine to be an excellent summary of the economics behind the utter destruction of higher education in this country. In particular, the following excerpt stands out:
“with so much available debt, universities can force graduate student workers to scrape by on sub-minimum-wage, making them a great source of cheap instructional labor. Fewer tenure-track jobs mean that recent PhDs, overwhelmed with debt, have no choice but to accept insecure adjunct positions with wages kept down by the new crop of graduate student-workers. Rather than producing a better-trained, more professional teaching corps, increased tuition and debt have enabled the opposite.”
So, not only is higher tuition causing a huge economic bubble, it’s also destroying the value of students’ educations. Brilliant.
Read the entire, extensive, article at http://nplusonemag.com/bad-education