Student Loan crisis - Maxine Waters

I would say we are on the same page, just in different paragraphs 

Where we differ is on the promises made about what a college education will do for someone.  Some of those claims are made by colleges, others are made by high schools and even the Media pipes in.  How often have you heard the old statistic that those who go to college make an average of over a million dollars more in their lifetime than those who don't (or something very similar to that)?  That is a true statistic, but it implies causation that doesn't exist.  The student who is enough of a self starter to go to college is going to make more money over his lifetime than johnny potsmoker no matter what.  College is not the reason for the increase, the ambition of the student is.  That statistic also ignores the millions of dollars made by the athletes and entrepreneurs who start at college and then go to their sports career or start companies that grow.  Again, a couple years of college education had nothing to do with the incomes of these folks, but the lie of the statistic goes on.

It is interesting you mention Ponzi scheme, I used to give Fordama a hard time about his Mathematics degree.  I forget what specific area of Mathematics it was in, but it was so narrowly focused that for 90 percent of his students, the only real world use of that degree was to become a professor & teach that same subject.  That is the quintessential definition of a Ponzi scheme, basically handing the hot potato down to the next guy.

Learning & knowledge are a positive thing in ones life.  Universities in their current model do not exist to provide that positive.