Passage: The price of higher education is exorbitant for numerous American families (Samuel, 2016, 01:45).
My comment: Higher education could not be perceived as expensive if the income, once one is employed, would sufficiently cover up for the costs incurred. As consumers, people believe that the high costs of higher education imply that they are receiving more for their money. Nevertheless, the money usually goes to the creation of better facilities and employing more staff. As such, most individuals end up unemployed or underemployed despite learning in good facilities under the management of quality staff. Moreover, they end up bearing the burden of college loans regardless of their subsequent poor financial status.
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Passage: Student debt is profitable to both the student and the student loan industry (Samuel, 2016, 03:45).
My comment: While students get an education financed by the student’s loan, I do not like the fact that universities and colleges profits twice; from tuition and the interest on the debt. Through the securitization of student loans, investors benefit through monthly commissions and fees. As such, the education sector is encouraging inequality instead of fighting it. This is especially when individuals borrow and end up with worthless degrees or lack a degree altogether. Consequently, most graduates cannot afford to host decent weddings, pay mortgages, and comfortably become parents.
Passage: Diplomas are a brand since students are treated as consumers, hence, they are captives of addiction and envy (Samuel, 2016, 04:44).
My comment: In today’s labor market, it is considered that the best financial investment is choosing to go to college. In addition, the college one joins their field of study, together with the cost or debt accumulated add value to their diploma. Moreover, the level of education of an individual determines their pay, but sometimes graduates end up disappointed in their pay since they have to refund it with interest. Also, I hate the fact that higher education is considered a status object, which differentiates one from others.
Reference
Samuel, S. (2016). How College Loans Exploit Students for Profit [Video]. TEDxPSU . Retrieved from https://www.ted.com/talks/sajay_samuel_how_college_loans_exploit_students_for_profit?language=en
