So now that we’ve highlighted the fact that you need to continuously drive enrollment, what do colleges do? Perhaps provide students with meaningful degree programs that are competitive in the worldwide market? Attract world-class professors and garner the interest of top tier students to perform groundbreaking research? Well…maybe a few schools, but not many. Instead, you have what was supposed to be a school turning into a circus. Pop artists, ridiculously unprofitable sports programs, movies, free events, carnivals, confusing degree programs (Nannying at Sullivan University). But most of all, ensuring, by any means possible, more federal student lending.
College meant something when a large percentage of the country wasn’t educated past high school, if that. It doesn’t mean much now that a significant portion of the country goes on to get a bachelors degree and means even less when the school is more concerned about getting tuition dollars than funding good programs. The worst part, however, is the fact that many of these students will have a hard time paying off these loans. Too many degree programs don’t offer entree into careers that merit taking on the debt required to earn them.
In student lending, the education lobby has convinced well-meaning people that higher education automatically translates to middle-class earnings. Unfortunately, reality doesn’t bear this out. Over $1 trillion of oustanding student debt has been accounted for in the third quarter of 2013, in contrast to the declining dilenquincies for mortgage, credit card, and auto debt according to the Federal Reserve Bank of New York. In an effort to extend college to everyone, the federal government has managed to create yet another potential crisis for which citizens, borrowers and taxpayers alike, will be on the hook.
Taweh Beysolow is a Young Voices Advocate and has published articles with the Washington Times Communities on economics and domestic politics. He has interned as a proprietary stock trader at T3 Trading in the financial district in Manhattan, NY. In addition to his academic studies within the school, he currently is starting to compile research in the field of economics with the intention of submitting it for publication.
Taweh has studied with NY Philharmonic bass clarinetist Amy Zoloto as well as esteemed recording artist Lawrence Sobol, as well as performed with the New York Youth Symphony. He works extensively with student groups in the NYC Metropolitan area while pursuing a degree in Economics at St. John’s University.