07-31-2024, 08:08 AM
I am not excusing the failure of graduate students to conduct due diligence on their intended profession and university, however, the USA has created a system that allows almost anyone to obtain a graduate degree. The broad availability of student loans allows mediocre students to attend marginal graduate schools without concern about the job market. Admissions officers, many of whom are nothing more than salesmen, are happy to perpetuate the unrealistic dreams of unqualified applicants because these admissions officers receive bonuses for each admitted student. The ocean of student loan debt is fueled by sales of packaged pools of student loans to institutional investors secured by the fact these loans are nondischargeable in bankruptcy. America's higher education system largely ignores student outcome focusing on how many student loans are generated instead. The net result, is a glut of poorly qualified 'doctors' who can't find a job that requires their terminal degree but must make payments on their six figure student loan debt.