It's not like people are forced to take student loans.

[hfojvt]

20. I got my first degree in 1985 at age 23

After I quit my first job with the MIC, I have basically worked non college jobs. Factory work, janitorial work, and temp work has been my "career". My degree has not been worth the paper it is printed on. I have not exactly thrived on those jobs http://www.democraticunderground.com/1002625762 but I would not call it bare survival either. My paid-for house, CD collection, DVD collection, multiple computers, high speed internet, multiple dogs, IRA funds and multiple fancy bicycles sorta belie that fact.

The loans are not necessary, in my opnion, because the college degree is not necessary, and as far as my experience goes, the college degree is not very useful. Employers are NOT falling all over themselves to hire me for the best jobs.

Part of that is the law of demand, or I forget what else the economics textbook called it. It is the story that, if one or two people stand up, they can see better, but then if everybody stands up, then nobody can see any better than if they all sat down. Similarly, if one or two people have college degrees (or one or two percent) then those college degrees are valuable, but when almost everybody has one, then people with master's degrees end up working as janitors because there are not enough of those degree-type (high paying and high status) jobs to go around.