Anyone wondering about college educations ought to read the aforementioned paper "Why Are Recent College Graduates Underemployed?", you can Google it - the paper describes the nuts and bolts of the glut of college graduates we have. Result, this country has the most highly educated cashiers, taxi cab drivers and bar tenders in the world. We also have highly educated janitors and security guards.
We have loads of lawyers driving the growth of activism politics and frivolous lawsuit among other things. Most of these genius's are have large student debts in addition to the money tax payers are coughing up to keep these universities in business. The bad economy makes it enticing to remain in school by deferment payments of student loans.