The College Degree Is in Shambles: It shouldn't be up to students to search for evidence that their credentials might be a rip-off

Degrees are, like homes, critical milestones on the standard path to prosperity. Because people tend to get their first degrees and homes earlier in adult life, when they have fewer financial assets and less established credit, it makes sense for the government to subsidize the loans used to acquire them. According to the U.S. Department of Education’s College Scorecard, there are over 780 institutions where fewer than one-third of students have annual earnings above $25,000 six years after beginning college. Why do people enroll in colleges where impoverishment and financial calamity are the most likely outcomes? Because it’s hard to see inside a college while standing on the outside, particularly if neither you nor anyone you know has been to one before.