Re:Peter Thiel’s Graph of the Year
by InclinedPlane on Tuesday December 31, 2013 @05:02AM
(#6989838)
That could be something the graph might be intended to show, but it's unnecessary.
What it does show, quite clearly, is that the burden on society as a whole from people pursuing (and attaining) college educations is growing out of control while whatever benefit that is providing is insufficient to bring up median incomes.
Maybe that's because a lot of people drop out and don't get degrees, whether that's true or not the ultimate facts still remain: a lot of people are being screwed.
The implication is that a bachelor's degree is costing more and generates less income, but what the graph shows is "total student loan debt" not the "cost of a bachelor's degree".
Technically this graph could be a good thing if we could graduating significantly more people who make more than someone without a degree (but 10% less someone who earned a degree 5 years ago), since more people would be better off.
Other things to note: The time period is arbitrary and mostly shows the impact of the recession over the past 5 years. The graph shows total student load debt which includes everything from vocational programs to PHD students in public and private institutions. The graph has two independent scales so the slopes are arbitrary.