by Charles Hugh Smith
Of Two Minds
A system that piles debt on students in exchange for a marginal or even zero-return on their investment is morally and financially bankrupt.
Every once in a while you run across an insider’s narrative of a corrupt, morally bankrupt sector that absolutely nails the sector’s terminal rot. Here is that nails-it narrative for higher education: Pass, Fail: An inside look at the retail scam known as the modern university.
Here are excerpts of the article, which was published in Canada but is equally applicable to higher education in the U.S.:
A university degree, after all, is a credential crucial for economic success. At least, that’s what we’re told. But as with all such credentials—those sought for the ends they promise rather than the knowledge they represent—the trick is to get them cheaply, quickly, and with as little effort as possible. My students’ disaffection is the real face of this ambition.