
The society which scorns excellence in plumbing as a humble activity and tolerates shoddiness in philosophy because it is an exalted activity will have neither good plumbing nor good philosophy: neither its pipes nor its theories will hold water.
—John W. Gardner
I was surprised a few years ago by the preface in the U. S. News and World Report annual issue on the country’s best colleges. It said its rankings are still valid but they couldn’t honestly say the colleges were worth the price. Things have not improved since then.
Costs have gone through the roof, increasing faster than the cost of medical care, and many students end up saddled with years, or a lifetime, of debt. I read one article that said 15% of student loans are owed by people over 65. And economists are warning that the over one trillion dollars of student debt will weigh down the economy for years to come. Some call it the next financial bubble.
So what happened? As far as I can tell the main problem is the notion that everyone should go to college, regardless of interest or aptitude. That was the only way to success in life. To give everyone the opportunity credit was made easy with no regard as to whether the students would be able to pay the debt off after college. Or without any regard as to whether or not the college experience and degree was really what the students needed to prepare them for life.
The colleges were in great shape, with plenty of students clamoring to get in. In general they could blissfully go on doing what they’ve been doing and raise their rates. It wasn’t their problem. Fortunately that may be changing. For instance Harvard, MIT and Stanford are looking into providing online classes, so new alternatives will be opening up. I think that’s a healthy development. I also think that it would be healthier if we stopped equating education with a college degree. I went to college because I always wanted to go and worked hard to get there and to get my degree. My sister didn’t go because she wasn’t interested. We both made great choices. She had an outstanding work ethic and did just fine in life. She’s better read than a lot of people I know who have their degrees, and she’s doing a fantastic job doing research on companies as she trades in the stock market.
What about you? How important was college to you? If you went what parts of it was the most valuable? Would it have been worth being saddled with years and years of debt?