Value of Education

On the WPA-L today, CJ from Missouri Western commented on how the economics of education were tied to students being used by the banking interests. Keep those student loans and credit cards coming! I thought back to the time Mike Schwartz refuse me a student loan back when student loans were a new thing: "You'll thank me later," he said. And I have--many times. All four degrees with no loans, no debts, and, regrettably, no scholarships. CJ was commenting about students being seduced by banking interests--for student loans and for credit cards. She complains that students aren't taught to make wise economic decisions.

Certainly, they could be taught to be suspicious of business-based threats, but what about educational seduction? How about the profs that seduce students into a second major or an extra seminar, adding an extra semester or year on to their coursework? If the advising were for the students' benefit, that would be fine, but how often is it so a prof can get a class to make or add a prime advisee? And how about programs that schedule required classes so that students cannot graduate in four years?

Or how about programs that let underqualified students in so that faculty have sufficient enrollment for classes? That happened at the graduate level at one school I know. The poor smucks went all the way through their MA programs, only to get nailed on their written exam. When I was called to help them prep for the re-take, I found out that the powers-that-be never thought they would make it that far. The idea was to let a few wannabees in when the program was at its weakest, just to fill the cracks. It apparently never occurred to these folks that the students were increasing their debt in a major that is dead-end for all but the most brilliant. One 50-year-old woman with a disabled husband was $40,000 in debt; a 40-year-old was $30,000 in debt. Today, that woman is a hotel clerk and full-time caregiver to her parent with Alzheimer's. She'll never be out of debt.

I don't disagree that bankers have taken advantage of students, but, given the work of educators', who has the greater responsibility?