Sunday, January 18, 2009

Caveat Emptor

Writing in Forbes, Kathy Kristof reveals "an unfolding education hoax on the middle class that's just as insidious, and nearly as sweeping, as the housing debacle. The ingredients are strikingly similar, too: Misguided easy-money policies that are encouraging the masses to go into debt; a self-serving establishment trading in half-truths that exaggerate the value of its product; plus a Wall Street money machine dabbling in outright fraud as it foists unaffordable debt on the most vulnerable marks."

The hoax? College.

Perhaps we should require every college to adopt a new motto: "Caveat emptor."

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