That may be the purpose of the loans, but it is not necessarily the purpose of universities.
No we’re not! The framing of higher education as a career enabler with positive ROI is the #1 bit of propaganda that has justified and reframed how tuition is evaluated and is directly responsible for the steady and insane yearly tuition hike since the 1980s.
Fighting for the essence and purpose of higher education is therefore not trivial but in fact paramount.
The fact that we are having this conversation in a thread suggesting that the federal government enforce universities as job mills is, I trust, enough evidence to make my point.
For a more in-depth treatment of this topic, see "Colleges are full of it: Behind the three-decade scheme to raise tuition, bankrupt generations, and hypnotize the media" on Salon: http://www.salon.com/2014/06/08/colleges_are_full_of_it_behi...
Are you saying we should lie to high school students about what does and does not lead to a high-paying job?
There are real economic effects that happen when new frames of reference / paradigms / conventional wisdom take hold. Think about the ridiculous 2003-2008 house price run-up and how it was concomitant with a mass change from seeing housing as a cost to seeing it as "investment". Positive feedback loop, that. Maybe the same idea here with higher ed.
Whether you or I like it or not, higher education IS a career enabler. No matter how this came to be, it's currently reality. People are willing to go into six figures of debt BECAUSE they believe it is a career enabler. Companies filter out non-college-grads because they believe it is a career enabler. Therefore, it is a career enabler.
It doesn't really matter what higher education's stated purpose is...Its actual purpose (in the real world, the one we live in) is to enable careers.
[1]http://blogs.wgbh.org/on-campus/2014/2/6/growth-nonacademic-...
We have public funding of higher education because a better educated populace is a better democracy and a better public.
It's an intrinsic value.
See also: http://www.salon.com/2014/06/08/colleges_are_full_of_it_behi...
https://hbr.org/2015/10/firms-are-wasting-millions-recruitin...
http://www.economist.com/news/briefing/21640316-children-ric...
http://www.economist.com/news/special-report/21646985-americ...
We spend a huge sum of money on "education" in the US, but the two-party, democratic government we have obtained for ourselves has left a huge fraction of the people dissatisfied and impoverished.
That is dependent on the economic cycle. In boom times employers hire anybody with a pulse, in bust times the glut of resumes for a job opening makes employers choosy. If out of all resumes for a retail associate job one candidate stands out due to his MBA and experience, he will likely get the job. That does not imply, however, that all retail associate positions now require MBAs.
I'm surprised there isn't more discussion here about ways to educate people cheaply and efficiently, more discussion of supply pricing.
It may be a bad deal to obtain the knowledge required for a degree in Anthropology @ $150,000, but maybe it's a great deal to obtain the knowledge required for a degree in Anthropology @ $15,000.
Meanwhile, my well-rounded education comes from independent study of this and that and places like HN. I guarantee you that I can identify quality information and know more about government than most of my peers.
That's fine so long as you actually want to become the person that liberal arts education strives to create. That archetype is a lovely justification for four years and the student loan equivalent of a 2016 Porsche 911.
The instance or the archetype, on the other hand, is not so nice. If somebody ever called me "sophisticated", I would assume that they were being sarcastic or condescending. If I called someone else "unsophisticated", that would make me look like an elitist jerk.
As for being "well-rounded", liberal arts college education is both redundant and contradictory. It's redundant because we already have K-12 education to "broaden horizons beyond one's comfort zone". It's contradictory because the whole idea of college majors pushes students to be LESS well-rounded in favor of a specialization.
They tried that with for-profit schools, who were quick to report very high levels of employment (omitting under-employment, with gigs such as barista or part-time retail) and setting up temp agencies that hired people to do busywork for six months or so.
If their graduates are able to drive, they already pretty much have a job with Uber, for instance.
So long as they're driving a vehicle that qualifies, in a city where Uber isn't disallowed and the market is a viable one.
[0]: http://www.cbc.ca/news/business/everest-college-closure-no-s...