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Tuesday, June 7, 2011

A must-read on "higher ed"

Chemeketa Community College in Salem, Oregon, USAImage via WikipediaWord is beginning to get out about the higher ed bubble ... first there's this great piece by a community college prof who laments the absurd idea that we need to give everyone a college degree to do the kind of jobs that make up most real work.

Then there's the welcome and long-overdue news that Illinois Senator Dick Durbin is actually proposing to cut off the fuel to the five-alarm blaze of destruction by allowing student loan debts to be discharged in bankruptcy. In my practice, I don't go a week and often not a day without a call from students or even from people who should be doing everything possible to save for a soon-to-arrive retirement but who are being eaten alive by student loan debt, debt that they can never, ever earn enough to repay, because that's what the Ed bubble means, just like the real estate bubble before it -- you bought high and can only sell low, if at all
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