If USGOV didn't guarantee student loans, this would NEVER happen.
College would be a fifth of the price and useful as well. Useful all around I mean not just in niche degrees
The reason they're doing this is to train political activists for the regime. It makes sense from the regime's perspective, but it's definitely a terrible idea to go there.
@cjd the government guarantee, including the inability for it to be included in Chapter 7 bankruptcy procedures.
It's pretty horrible, the government takes over the loan and then enslaves the borrower for life. Again, if you're the regime this makes a lot of sense, but it's a meat grinder you want to stay well away from.
According to one source, the average wage of a professor is 155,000USD. So class size to pay the wage of the professor and break even would be 3 if they're paying 200k for their education over 4 years. Of course there's administration and buildings and other taxes so let's double the cost to employ a professor to 300,000, which makes it 6 people to break even. But 200k for an education is too damn much! So let's say you have 12 students, that would cut it down to 100k over 4 years, you could further cut it down to 24 students to make it 50k for 4 years, but that's getting to be a pretty large class.
On the other hand, when I started in college there was 45 people in my class, and that number shrank pretty quickly, so it's entirely possible to have the average higher than the number of grads.
To be honest, I don't think that $200,000 for an education is a good investment. You're just relying entirely too much on future earning potential, and so if something happens and for example it turns out you just don't have any talent or you can't find a job in your area and don't want to move, you can end up with entirely too much debt for something that didn't pay off. That's why I think it makes a lot more sense to go with a more modest education that maybe won't get you top pay, but is likely to get you a nice mid-tier job somewhere and if it turns out it doesn't, you don't have a literal house worth of debt to pay off on minimum wage.
On the other hand, when I started in college there was 45 people in my class, and that number shrank pretty quickly, so it's entirely possible to have the average higher than the number of grads.
To be honest, I don't think that $200,000 for an education is a good investment. You're just relying entirely too much on future earning potential, and so if something happens and for example it turns out you just don't have any talent or you can't find a job in your area and don't want to move, you can end up with entirely too much debt for something that didn't pay off. That's why I think it makes a lot more sense to go with a more modest education that maybe won't get you top pay, but is likely to get you a nice mid-tier job somewhere and if it turns out it doesn't, you don't have a literal house worth of debt to pay off on minimum wage.
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If you play the game correctly, you can get hired in McKinsey or something and make a fat salary doing nothing, but I will be the first to tell you I have no idea how that game works.