The University As a Scam

Via Instapundit.New York reports:

Pity the American parent! Already beleaguered by depleted 401(k)s and gutted real-estate values, Ponzi schemes and toxic paper, burst bubbles and bear markets, he is now being asked to contend with a new specter: that college, the perennial hope for the next generation, may not be worth the price of the sheepskin on which it prints its degrees.

As long as there have been colleges, there’s been an individualist, anti-college strain in American culture—an affinity for the bootstrap. But it is hard to think of a time when skepticism of the value of higher education has been more prominent than it is right now. Over the past several months, the same sharp and distressing arguments have been popping up in the Times, cable news, the blogosphere, even The Chronicle of Higher Education. The cost of college, as these arguments typically go, has grown far too high, the return far too uncertain, the education far too lax. The specter, it seems, has materialized.

An article well worth your time.