OH, LET US HOPE SO!: A Declining Industry? The Growing Financial Risks of College
Ohio University economics professor Richard Vedder has been arguing for a long time that college has been drastically oversold and now the facts on the ground are proving him right.
Here’s a key passage:
Merit is out, and “equity” is in, so I fear colleges will continue to turn out or fail large numbers of mediocre students—further discrediting the notion that college is a good value proposition. I used to encourage bright students to consider becoming college professors some day—rarely any more. Universities are to the professions what coal mining or steelmaking is to blue-collar workers—a declining industry.