October 9, 2012
The tuition itself is a larger problem than you think. Student loans have interest, and that interest compounds. A $40,000 loan can easily cost $60,000 or more to repay when interest is taken into consideration. A liberal arts degree will no longer deliver the kind of comfortable middle-class existence your parents enjoyed. The truth is, our economy is going through a difficult transition. Companies are downsizing, and technology is taking over roles normally reserved for those college graduates who didn’t like math. If you’re not already a high-value employee — and trust me, you’re not — then your best hopes are going to be getting an entry-level position in a large company and staying there. Just ask the millions of people with degrees who are unemployed or working jobs that don’t require a degree. The old numbers showing a college education increased your earning potential are obsolete. The world has changed.
Read the whole thing. Sadly, the liberal arts skills are in short supply, but liberal arts programs aren’t reliably producing people with those skills any more.