Aram Zucker-Scharff

These U.S. Colleges and Majors Are the Biggest Waste of Money:

You can major in art at a lower-tier public university if you want to. Just don’t expect it to make you rich.

Here’s a list of colleges where your attendance (rather than no college at all) is likely to result in a net lifetime loss of money, because sometimes higher ed just wants to screw you over. Included: 

VCU (Education degree) will lose you $107 to $169k

ODU Arts is worth a resounding -$120k

Ohio State (Education) will give you -$142k

SUNY Buffalo (Arts) grads get a whole -$122k

Broke Grad Students Are The Next Debt Crisis And It’s Partly The Government’s Fault:

The latest study from the New American Foundation, released today, found that about 40% of the more than $1 trillion in outstanding student loans went to finance graduate and professional degrees. …

It’s really mostly the government’s fault. 

In the last 8 years graduate student debt has ballooned 43% to almost $60,000. Obama administration curtails loan forgiveness programs and regulations on student loans.
But President Obama is friend to the millennial, right?!

Student Loans Entice Borrowers More for Cash Than a Degree:

Some Americans caught in the weak job market are lining up for federal student aid, not for education that boosts their employment prospects but for the chance to take out low-cost loans, sometimes with little intention of getting a degree. Ray Selent of Fort Lauderdale, Fla., who is taking courses for a degree in theater, says student loans allow him to cover any needs that arise.

Taking out more student loans to cover expenses and keep back the collectors on other student loans is pretty foolish. The fact that people are doing so because they’re too much of a credit risk to get a normal loan is both familiar and terrifying.