I think maybe its time to quit promoting the idea that everyone should go to college.The only thing this idea does is increase the number of people with useless degree and devalues lower educational degrees. I would support legally requiring colleges to inform students what their future job perspectives would be in the degree they are going to college for, what that field's starting pay is and how many years it would take paying back those loan. If students realize that they have a snowballs change in hell getting into a certain field or that degree pays barely above what a non-college job pays then they won't waste their money or in some cases our money getting a useless degree. Selling a useless degree is no different than selling a fraudulent product.
"A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"
Cicero Marcus Tullius
education over the course of time has transcended from a commodity that only the wealthy and powerful in society can afford to the (in president obama's words) "great equalizer" but the current trend would say other wise, the prize of having a good college education makes the body go numb. the greatest asset in the global market today (a good education) is being sold in the united states at prices which the average earner can not afford comfortably. this is a great contrast to Asia and in my opinion thus the reason for the sore in the Asian standard of living and development.
Occupational Outlook Handbook provides such data. Moreover, if one wants to analyze what's actually happening, Schedules A-8, A-13, A-14, and B-1 through B-9 on the monthly Employment Situation reports are useful. In addition, a variety of loan calculators is available online.
Having said that, a combination of initiative, ability to identify and understand trends, and literacy is necessary for students--or any individual for that matter--to access and utilize such information. In my opinion, it would be a good idea for the Academic Advising offices, or related offices that provide guidance to students regarding major selection, to introduce students to such information. In the longer-run, providing useful information to students could enhance the value added by the institutions of higher education that provide such information.
“Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes
"The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."
-- Adam Smith