Re:Peter Thiel heads to campus
by SkyMarshal on Sunday March 11, 2012 @09:25PM
(#3691944)
I haven't followed everything he has said about college education, but I do believe he doesn't hate universities so much as their current value proposition.
The amount of debt students have to take on now to get a degree, in contrast to what a motivated person can learn and do on their own now with alternative educational sources and a cheap computer, means that most of that debt is paying for just the credential, whose value is being increasingly undermined while its cost continues increasing.
So he believes student loan debt is the next big financial bubble due to collapse, given that there is more of it than credit card debt [1], and that it's being loaned for any major regardless of its expected ROI, among other things.
The amount of debt students have to take on now to get a degree, in contrast to what a motivated person can learn and do on their own now with alternative educational sources and a cheap computer, means that most of that debt is paying for just the credential, whose value is being increasingly undermined while its cost continues increasing.
So he believes student loan debt is the next big financial bubble due to collapse, given that there is more of it than credit card debt [1], and that it's being loaned for any major regardless of its expected ROI, among other things.
1. http://www.washingtonpost.com/blogs/college-inc/post/student...