25 Disturbing Facts That Prove College Is A Huge Scam
• Instead of preparing the next generation of leaders for the jobs of tomorrow, the college education “industry” has become a giant money making scam.
â€˘ Unfortunately, as our young people graduate they quickly discover that there are way too many college graduates and not nearly enough good jobs. Today, we have millions of young Americans that are wage slaves to their student loan debt for the rest of their lives. They were promised a bright future, but instead most of them are discovering that they are going to be working really hard to pay off financial predators for decades to come.
#1 â€˘ Average yearly tuition at private universities in the United States is now up to $27,293. That amount has increased by 29% in just the past 5 years.
#2 â€˘ In America today, approximately 2 out of 3 college students graduate with student loan debt.
#3 â€˘ According to the Student Loan Debt Clock, (http://www.finaid.org/loans/studentloandeb tclock.phtml ) total student loan debt in the United States has surpassed the 1 trillion dollar mark in early 2012.
#4 â€˘ The total amount of student loan debt in the United States now is more than the total amount of credit card debt in the United States.
#5 â€˘ Over the past 25 years, the cost of college tuition has increased at an average rate that is roughly 6% more than the normal rate of inflation.
#6 â€˘ The cost of college textbooks has tripled over the past decade.
â€˘ Source: http://www.nytimes.com/2012/02/04/opinion/
#7 â€˘ According to recent Pew Research Center polling, three-quarters of Americans agree that college is too expensive for most Americans to afford.
#8 â€˘ The student loan default rate has almost doubled since 2005.
#9 â€˘ Roughly 14% of all students that graduate with student loan debt end up defaulting within 3 years of making their first student loan payment.
#10 • According to very extensive research detailed in a new book entitled “Academically Adrift: Limited Learning on College Campuses“, 45 percent of all U.S. college students exhibit “no significant gains in learning after two years in college.
#11 â€˘ Today, college students spend approximately 50% less time studying than U.S. college students did just a few decades ago.
#12 â€˘ 50% of U.S. college students have never taken a class where they had to write more than 20 pages.
#13 â€˘ 32% of U.S. college students have never taken a class where they had to read more than 40 pages in a week.
#14 â€˘ U.S. college students spend 24% of their time sleeping, 51% of their time socializing and 7% of their time studying.
#15 â€˘ One survey found that 23-percent of all college students actually use credit cards to pay for tuition or fees.
#16 â€˘ Only 55.3% of Americans between the ages of 18 and 29 were employed last year. That was the lowest level dating back to World War II.
#17 â€˘ 33% of all college graduates end up taking jobs that donâ€™t even require college degrees.
#18 â€˘ In the United States today, there are over 100,000 janitors that have college degrees.
#19 â€˘ In the United States, there are over 320,000 waiters and waitresses that have college degrees.
#20 â€˘ In the United States, it is estimated that 365,000 cashiers have college degrees.
#21 â€˘ One out of every 4 retail salespeople have a college degree.
#22 â€˘ There are roughly 5.9 million Americans between the ages of 25 and 34 that are living with their parents.
#23 â€˘ Federal numbers show that just over 33% of the full-time students who started college in 2001 obtained a bachelorâ€™s degree within four years. So, those other 2/3 are accumulating more debt from student loans when graduating in 5 years or more.
#24 â€˘ Based on a recent survey, less than 15-percent of all Americans who are 28 to 29 years old are optimistic about their financial futures.
#25 • Once college grads get into the “real world”, 70% of all college graduates wish that they had put in more time preparing for the “real world” while they were still in school.
A Solution? • A good way to get around all this is to look into an internship if college is something you truly want to experience. At least you get some real-world work experience with an internship and a foot in the door of a company you want to work for. • http://www.internships.com • http://www.collegeworks.com
â€˘ Sources: â€˘
Published on Dec 21, 2012
Learn 25 tell-tale signs why attending a 4-year college may not help you make more money. Additionally, you wil be strapped with student loa...