A decades-old policy shift has cemented the expectation that higher education is the default path for all students, backed by government-backed loans that offer seemingly limitless funding for advanced degrees. Critics argue this approach has led to widespread financial strain, as the assumption that college is the best route for every graduate has outpaced economic realities. The consequences of this well-intentioned but rigid system now face growing scrutiny as borrowing levels and student debt burdens continue to climb. Questions remain over whether the policy’s original goals still align with today’s labor market and financial pressures.
The granddaddy of all boneheaded policies was the decision made decades ago that all kids should go to college — and that Uncle Sam should lend unlimited funds to every high school graduate who aspired to earn an advanced degree.
