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It is a sad situation indeed where colleges are no longer safe and secure haven where you get to learn. The rip-off situation makes education no longer a safe investment bet in the US. In America, the watered down quality of education does not allow hard working students to land a good, lucrative job.

Cost of education continues to sky-rocket making it impossible for students to complete their degrees and start their career without being saddled with a huge debt. According to Michael Snyder, statistics show that one of the major societal problems today is the rising college loan debts.

He also says that it should be avoided at any cost at the earliest. The end result is not justified by the costs and there is a severe drop in the quality of education with no learning taking place whatsoever. Snyder says that at least two to four hours are spent in classrooms by a majority of students who spend about an hour our two studying outside classrooms.

Apart from this, they spend the rest of their time partying, drinking beer, going to sporting events, having sex, hanging out with friends, playing video games or chatting on Facebook. For most students, college is the most enjoyable time of their lives, a huge party.

Snyder says that it is definitely not worth spending on college education and he provides compelling arguments to support his view point.

Cost of education has skyrocketed in recent times. There was a staggering increase of 900% in the tuition fee over the past few decades. The average tuition fees per year charged by many institutions today range between $40,000 and $50,000. This excludes living expenses and boarding charges, says Snyder. 

Another interesting fact to be noted is that today the average Americans hold more of college loan debt than credit card debt. The accumulated student loans amount to a staggering $900 billion. By the time students’ graduate, they are saddled with a debt of over $25,000 according to Snyder.

There is clearly erosion in the quality of education. Colleges deeply disappoint students who pursue education with an aim to furthering their career. They come to study in order to move up to the middle class but are obviously unable to do so.

They find themselves struggling in mediocre jobs that do not pay well enough. Most of them in fact are forced to take up jobs that do not even require a college degree. Statistics show that one third of the graduates are working in jobs they could have got even without a degree.

Talk to the parking lot attendants in American and you will find that most of them hold college degrees. According to Snyder, the Economic Policy Institute data shows that the unemployment rate was 9.3 percent among 25 years and younger college graduates in the year 2010.

All this makes you wonder if the entire system of education is not fraudulent. It also makes us wonder if there is any hope at all and if it is even worth spending your precious time in colleges that charge a fortune and offer sub-standard education.