Remember a while back when the price of gold skyrocketed and suddenly there were all "Cash 4 Gold" places that were willing to pay you "good money" for your gold. I've noticed the same thing has happened with the education system with a of a bunch of college popping up seemingly out of nowhere with promises of making more money by having a better career. The whole college system seems like a racket to saddle people with debt that takes them often decades to pay off. The ironic part is that despite more and more people going to college, our overall educational rank in the world hasn't improved.
Oh and don't get me started on the college textbook scam.
Yeah when there is growth in easy-to-qualify loans that may only be spent with one industry, that industry will prosper. The great part about it (for schools) is that they don't actually have to work that hard to lobby for more government-underwritten education loans.
...our overall educational rank in the world hasn't improved.
If you just look at the top end, it isn't actually possible for the USA to improve its rank. ( http://www.timeshighereducation.co.uk/world-university-ranki... ) I know there are some awful lower-level schools, but I assume there are all over the world as well.
Oh and don't get me started on the college textbook scam.