The other end of the problem is that kid's aren't even trying to flip their degree. Most kids consider college and experience not an investment. You're kid is the worst investor on the planet. Because instead of majoring in Bioengineering they are majoring in psychology. And If they are majoring in psychology they aren't out to get the best damn research positions over the summer and publish papers, they are out work…
This is completely what's wrong with the system. Eventually everybody needs to work for money. That's not to say you can't go to University to better yourself and learn something that inspires you. Eventually, though, you have to eat and pay for creature comforts. If college has a huge sticker price, what's paying the bill? If not college, something else has to. Everybody who goes to school needs to make sure that th…
Studying something in college that will not lead to a future career is a hobby, not an investment. Spending large amounts of loan money on a hobby that cannot pay the loans back is a very silly thing to do.
Liberal arts degrees are great, and a good learning experience for students. But they aren't worth taking out loans for if there are not jobs to pay those loans back.