In this article ZehoHedge describes the reasons making college degrees worthless (http://www.zerohedge.com/news/2017-06-15/four-reasons-why-college-degrees-are-becoming-useless).
Expectations
Many people pursue college/ university education in order to get a well paid job in the future (That's why my universities are overcrowded)
So much for the theory. Hoever, the reality is not so rosy.
Nowadays, you can have a degree from a fancy university and earn peanuts or be unemployed (in the USA you also have college loans to pay).
I have friends, who attended top universities to get their post-graduate degrees. However, they did not experience a huge increase in their income. Some of them confessed that the returns did not justify the input.
Educational Bubble
But what is the future of all this? Not a rosy one!
Not long ago, I read an article about some deans complaining about a high number of students. My answer to them is: "Be careful what you wish for!!!".
My view is that we are now facing the so called educational bubble (Just like on the stock market - there are booms and busts). Once It bursts, it will not be a nice sight.
In my opinion, we are going to witness a sharp decline in student numbers in the upcomming future (due to economic and demographic reasons).
The universities, currently overcrowded with young people, will become empty and silent! (High schools will face a similar developement).
Not so long ago, I overheard a conversation of two high schoool students. One of them said : "With or without a university degree, I will have to work long hours and earn close to nothing. So what is the point?". The thing is, I heard similar statements from teens in the course of the last two years. In other words, kids start to get the message by watching their parents and older siblings working more and more and earning less and less.
The other problem the societies will face is the rise of the so called NEETs (meaning the people without education, employment, training). Expect their number to rise sharply and imagine all the problems related to this matter.
I truly hope that my prediction will not materialize, but you have to be realistic.
