Forbes recently described student loan debt as the $1.5 trillion crisis, adding that "Student loan debt is now the second highest consumer debt category - behind only mortgage debt - and higher than both credit cards and auto loans," which is affecting 44 million borrowers in the U.S.
There's also the cultural effect that college is having, the indoctrination that young people are being subjected to. More and more powerful people are recognizing that college as an institution is a problem.
Last Friday, Peter Thiel gave a keynote speech at the Intercollegiate Studies Institute's Collegiate Network editors' conference. He told a roomful of 100 students:
Universities today are as corrupt as the Catholic Church of 500 years ago. At some point, if it's 100 to zero, you start to suspect you're in North Korea. Does the unanimity mean you've gotten to the truth, or does it mean you're in a totalitarian state. We have this illusion that all sorts of important decisions have been decided.
We are not on the losing side of history. The other side is on the losing side. The reformation is going to happen, and it won't come from within, but from the outside.
Thiel has worked actively to bring about the change that he's talking about here. The lawsuit he led against Gawker helped topple their empire of filth and lowest-level journalism. He has also created The Thiel Fellowship, which "gives $100,000 to young people who want to build new things instead of sitting in a classroom. The idea that we are on the losing side is a form of psychological warfare."
We're not on the losing side. Not in the slightest.
And he's right. We're not on the losing side. Not in the slightest. We're on the up-and-up. Things are only going to get better from here.