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The System Is Broken: College is a Scam?

Great new blog post from James Altucher: Is College A Scam?. An excerpt:

…The bottom line is: the system is broken, the middle class is disappearing, being carved through the middle by a trillion dollars in student loan debt, and everyone is still raising tuition faster than inflation. And 50% of kids with college degrees now are underemployed. And that one statistic that “if you go to college you make a million dollars more” is totally flawed and I explained why using basic Statistics 101 knowledge (explained in detail in this post). I also talked about the people I met when I wandered around NYU interviewing students about how they were going to handle their student loan debt. I talked about the girl who was practically naked while hula hooping so she could make debt payments from a tip jar. I spoke about the two kids who got degrees but were now clerks in an eyeglass store getting paid by the hour, and they felt they were “lucky” because most of their other friends did not have jobs. And I told my story of how I spent 3 years studying computers then 2 years in grad school for computers then had to take remedial computer classes once I got a job. The woman who spoke immediately after me, a computer professor from the shit school I graduated from, said, “well James went to our college and was successful so it couldn’t be all that bad.” And everyone laughed and clapped.

Wake up proletariat! The system is busted. What are you going to do now? Red pill or blue pill?

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