“I was so pro-education – that’s all I wanted in my life… and I’d still like to be pro-education, but to put anyone through what I’ve been through… In my case, the education I think ruined my life… I would’ve been better off if I would’ve gone to work at McDonalds… this is a debt I can never get over.”
Dr. Pamela Bacon, DDS
Eight months after it’s release, the National Inflation Association’s (NIA) release of “The College Conspiracy” has received nearly three million viewers. Despite it’s alarmist message and pitch for precious metal investment, the documentary raises legitimate concerns about the parallels between government-guaranteed student loans and the disastrous home loans secured by Fannie Mae and Freddie Mac.
“When I graduated from my undergraduate degree I had three hundred dollars in student loans that I owed… what you got in exchange for your education was lifetime indenture and a new house. So… you got your degree, you got out of school, you got a job and therefore you bought a house because culture drives you to buy a house. So now you’re in debt. You have to work – now you have to be part of the wage/slave economy for the next 20 to 30 years until the house is paid off. These days, college is the new house – and you don’t even get the house! As soon as you get out’a school you’re indentured for life.”
Professor Emeritus, U. Arizona
In what they call “the largest fraud in U.S. history,” the NIA characterizes US college education system as a huge bubble that will soon collapse – not unlike the housing bubble that skeptics refused to believe threatened the US economy.
Whether or not you believe that college is right for you or your children, this documentary should become part of that decision. (Documentary – Runtime 62 minutes)
See also Penelope Trunk’s Essential Advice for New College Grads