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College is a great investment no matter what. and now people are starting to ask really, really tough questions about america society, the authority they have, the moral high ground. moody s is saying college might not be worth the cost. the high cost of college plus the growing doubts of a value of a bachelor s degree has caused it to revise the down look of the entire sector to negative. there s going to be a crisis one way or another. it gets to the point where the price of a degree is so high that people don t want to pay for it. they want to say education is nonfinancial, it s an end to itself. these are very noble ideal, but they don t make sense when people are take on $100,000, $200,000 in student debt. ....
20 years ago, we said all the kids who aren t going to college are being the victim, now it s turning out a lot of the kids who are going to college are also the victims. it s like a sub prime mortgage broker who ripped you off and talked you into buying a house you couldn t afford. education in some ways is even more insidious than housing. there actually isn t the same kind of safety valve in the student loan market you see in the mortgage market. there s no such thing as disclosure or bankruptcy. over half of loans today are either in deferment or default. when you default on your loans, the interest is applied to the princip principal. so you see original balances in the 10s and 20,000 ballooning up into $100,000. rt staing out $78,000. ....
To college. the thiel fellowship is focused on a small sub set of people that i think will do fantastic even without a college credential. i think it s a bigger question, what one does for average people, less advantaged backgrounds, i don t have answers for it. many intellectuals are saying it would be better if somebody people don t go to college at all. i think that s an assault on democracy. and it s an attempt to keep people in their place and reinforce social inequality. education should foster social mobility and the possibility of equality. there s no you got to be crazy to intentionally not get a college degree, if you have a choice today. and if the college education is really a college education, and not just training in one particular little field. you learn how to learn, so that can actually open up new things ....
I think it s very important to think hard about if you didn t go to college, what would you do instead? the man to funded paypal, facebook is offering 24 college students, $100,000 if they drop out of school and start their own business. when you think of hacking, you think of hacking a computer. hacking an education is really finding an alternative. i might go to college. i might not. that s why i m here right now. if you want to challenge yourself not to go to college, or if you want to challenge yourself to go to college and get the most out of college, you have to reflect on what it is you re buying and what it is that your parents are buying. ....