by Victor Davis Hanson
Higher education is no longer affordable for many families, and does not guarantee well-rounded, well-educated graduates. A university debt bubble, in Fannie and Freddie fashion — together with the rise of no-frills private online certificate-granting institutions — is undermining traditional higher education. The symptoms are unmistakable: tuition spiraling far ahead of inflation; elite faculty excused from teaching to publish esoteric articles in little-read journals; legions of poorly compensated part-time instructors and graduate-student assistants subsidizing the privileged class; political orthodoxy as an unspoken requisite for membership in the club. An administrator is deemed successful largely for promoting “diversity” — rarely on the basis of whether costs stabilized, graduation rates increased, the need for remediation declined, or post-graduation jobs were assured on his watch. This warped system, which grew out of the bountiful 1960s, is now a vestigial organ, an odd-looking thing without an easily definable purpose. When will the bubble burst? If the four-year university cannot ensure its graduates that they will necessarily have a better-paying job and know more than the products of an upfront credentialing factory, why incur the $200,000 cost and put up with the political indoctrination?
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