What is the US college education bubble
© JUNGE FREIHEIT Verlag GmbH & Co. www.jungefreiheit.de 33/15 / 07 August 2015
University crisis in the “anti-intellectual” USA: college debt
Before the education bubble burst
According to the Berlin political scientist Jan-Werner Müller, the US university system, an inviolable role model for German educational politicians for decades and praised by them as “the best in the world”, is in deep crisis (Merkur, 793-2015). After the real estate bubble, there is now a threat that the education bubble will burst. Because the costs of private universities in particular are rising rapidly. Private colleges have become 25 percent more expensive since 2005. As a "market leader", Sarah Lawrence College currently charges $ 65,000 for one academic year. As a result of such costly knowledge consumption, college graduates would have accumulated “an incredible $ 1.3 trillion” in debt. As a result, three-quarters of US citizens believe that college education is “just out of reach” for them. Eulogists of the free education market economy should give thought to the fact that the situation at the "profit-oriented universities" looks the worst, because only 25 percent of the students who have been talked into high credits achieve a degree. The university crisis reflects the problems of a "largely anti-intellectual country" as a whole. Perhaps it would lead to a post-professorial world in which everyone markets knowledge online and which Google is already promoting as the “democratization of educational access”.
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