This should come as no surprise: Play stupid games, win stupid prizes. Excerpt:
Noël Flynn is spending more than 80 percent of her income to pay back tens of thousands of dollars in debt for her Art Therapy degree. In 2016 alone, the Department of Education loaned $25.9 billion to students who, like Flynn, chose degrees under the umbrella of the liberal arts and humanities, an analysis by The Daily Caller News Foundation found.
A significant portion of those students are unlikely to have the means to pay back their debt after graduating.
“I find myself struggling financially, and the biggest reason why is student loans,” said Flynn, 23, who says she was told the loans “wouldn’t be overwhelming” once she graduated.
Most federal student loan programs do not require a credit check, nor do they require a cosigner. Rather, the loans are backed by nothing more than the borrower’s future earnings with a college degree, but the kind of degree isn’t a consideration in the loan process.
Note that degree: Art Therapy. Also in the story:
Students who enter the workforce with a degree in the liberal arts and humanities often find themselves working in a job that does not require a college degree, according to a New York Fed analysis of the underemployment rate for recent college graduates.
Frankly, I’m surprised that Ethnic Studies isn’t at the top of that list, but I suppose there’s always room in the grievance industry for a few more agitators.
So the obvious question arises: What policy solution is there to this? Well, that’s simple: Get the government out of the education system, including financing that education. If student loans are to be made, let the private sector make them. If private lenders were making student loans with no Imperial guarantees, I suspect this wealth of crap degrees would dry up very quickly; student loan applications made to a bank or credit union with the goal of a Bachelor’s in Liberal Arts will (and should be) looked at askance, while a student intending to study, say, Mechanical Engineering would be a much better risk.
Get government out of education at all levels, I say! Let us have separation of school and state. That, not more Imperial interference, will dry up this fraudulent torrent of bullshit degree programs.