Popping the Education Bubble
According to this site, Peter Thiel, the entrepreneur who co-founded PayPal, is offering $100,000 to people to drop out of college and start a business. This whole idea stems out-of-the-way critics have been calling higher education the next “bubble,” referring to something as damaging to the economy as the housing market of a few years ago.
The argument is that education is too costly for the amount of money one might earn upon graduation. Basically, a 4-year degree is required to obtain gainful employment, but the average “gainful employment” does not pay enough to make dollar amount spent on college “worth it.”
The major problem with this view is that it requires one to believe that the only goal of higher education is a paycheck. Does the college experience have no worth? Is there no value to the changes that go on within a person during their education? Does education itself have no intrinsic value?
I am in a great deal of debt due to my education. Part of it was caused by my own ignorance and stupidity, and part of it by the high cost of education. If I could go back and redo anything, I certainly would go to school.
This nation is in a great danger if we start valuing an immediate paycheck over education.