When Not Even The "1%" Can Afford College

Tyler Durden's picture

Since in America one now needs a Bachelor's degree (if not a PhD in economics, of course) to get a job as a waiter, according to the following chart the US may soon have a severe waiter shortage considering the cost of college tuition has outpaced even the income of the 1%. As for everyone else, forget it - want that French Polynesian belly-dancing major? Prepare to become a debt slave for life.

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outamyeffinway's picture

My degree says I am so smrt, but I feel so stupid.

Say What Again's picture

This is getting so depressing that I think I'm going to click on one the ads for a hot russian bride that appears on the side of the ZH web pages.

lordylord's picture

Cue Zero making blanket statements about college education by grouping together engineering/science degrees with lib arts degrees in 3...2...1...

svayambhu108's picture

Education is like all the e-stuff (bitcoins included), you pay for free shit.

DerdyBulls's picture

Aren't banks and universities sort of alike? Both make money providing nothing of real value leaving people indebted for life...

Say What Again's picture

I'm putting my education to good work.  Here is the value of PI out to many decimal places.



Now that is info you can use when you need to feed the family.
James_Cole's picture

Now that is info you can use when you need to feed the family.

Funny thing, precise use of pi actually is, not that you'd need to memorize it. 

SafelyGraze's picture

"Cue NSF making blanket statements about college education and teasing out engineering/science from lib arts"

can they actually *do* that?



James_Cole's picture


Author takes a very specific list of statistics and uses them for incorrect application and comes up with what are certainly highly flawed conclusions.. nice. 

Only thing of note in the charts he references is how poorly post docs are paid in the US. 

There's these to compare: 



I am more equal than others's picture



When Lib-tards get large and in charge prices go way up and value goes way down. 

That PhD in comparative Lit or Women's Studies (what is that, studying advances in vacuuming technique) is in such demand that employers wait outside college graduations looking for these folks.  Having one of these degrees is a sure fire way to make it to the Welfare office, as a recipient. 

i_call_you_my_base's picture

"That PhD in comparative Lit or Women's Studies"

This argument really has no bite. Do you know how many PhDs they probably give out in those fields in a year? I would estimate less than 500. The vast majority of people major in Business, education, etc. Here's some help: http://nces.ed.gov/programs/digest/d13/tables/dt13_318.20.asp

I am more equal than others's picture


112,755 is Other PhD.  Most of the Others should be classified as Useless.


2009-10 158,558 7,739 9,778 14,321 9,370 9,233 2,245 105,872 100.0 4.9 6.2 9.0 5.9 5.8 1.4 66.8 2010-11 163,765 8,360 10,241 14,574 10,013 9,623 2,286 108,668 100.0 5.1 6.3 8.9 6.1 5.9 1.4 66.4 2011-12 170,062 8,733 10,525 14,974 10,554 9,990 2,531 112,755 100.0 5.1 6.2 8.8 6.2 5.9 1.5 66.3
James_Cole's picture

Why is everyone on here who's anti-education obsessed with women's lit? Women's lit is the go-to talking point. Fox news anchor is that you?

LawsofPhysics's picture

The question has to do with affordability and paying for college or paying off your loans.

Let's be optimistic, let's say that both the engineer and women's studies major find jobs, what is the return on each of those investments at all of the differnent levels (BS, masters, Ph.D.).  That's what I would like to know.

StychoKiller's picture

Depends, which one gets hired by a 3-letter agency?

Stuck on Zero's picture

Get stupid. If you are sending your kids to college lose your job, collect unemployment, turn your assets into physical PMs, and get a "divorce."  Your kids can now get scholarships and go to college for free.  You will save more on tuition than you would earn during those years and when the kids graduate you can remarry and get a job. That's years of free vacation!


10mm's picture

Only a slave if one allows it at this point.

aphlaque_duck's picture

Evil requires the sanction of the victim.

libertus's picture

Why not just forget the current system and goto oplerno.com. There is better choice in classes, faculty and the price point is lower. Faculty also make more money and own the IP they create. Higher Education is collapsing, but this new institution will thrive. Check it out. 

Sudden Debt's picture

More like a total moron would go to college in America.


1. the quality is 500% higher than in America.
2. It's nearly free.
3. You can life in Europe for 4 years and learn other languages

You could do it for 50k in housing costs and food, which you could earn working a few hours a day during those 4 years.

lordylord's picture

Down-voted you because you sound like a retarded socialist (sorry for the redundant term). Nothing is free.

Sudden Debt's picture

nearly free. In Europe we believe that the higher you educate your kids the more they'll be able to give back to the system when they grow up.

So no, it's not free. But it's not a chain arround your neck before you start.

By downvoting me, which I don't give a fuck about :), by downvoting me you said you like your own current system.
And if your don't... whell... than you're just somebody who hates everything without knowing why. And that's... near sociopath :)

101 years and counting's picture

stupid chart.  the top 1% are gaining millions just from interest every year.  

Sudden Debt's picture

Never theless, they should organise a telethon to raise some money to support them.

Remember, having 5 cars, 3 houses and 2 wives costs money.

syntaxterror's picture

ZH is so full of ****.

Inflation is less than 2%. This is BS.

yogibear's picture

Inflation is less than 2%.

Apparently not shopping at the food stores and buying gasoline.

Tough to eat IPods.

BlackChicken's picture


Thanks for a good Monday laugh.

Charles The Hammer Martel's picture

aybe Zerohedge isnt for you. CNBC will gladly fill your head with false notions like that to give you a sense of security.

McMolotov's picture

+1 for the apparent sarcasm everybody missed.

yrbmegr's picture

Your personal inflation rate depends on your "class".  If you are super-rich, your inflation rate is approaching 10%.  If you're between super-rich and the bottom 99%, your inflation rate is probably around 5-7%.  Upper-middle is around 5%, middle around 3%.  Etc.

Bear's picture

1973 ... Ah, those were the days

DaveyJones's picture

Keep on truckin

it's hard to believe that a large american system has been corrupted by money

Itchy and Scratchy's picture

It's not the cost of university .....it's the cost of therapy after listening to the socialists teach for 4 years that's expensive!

i_call_you_my_base's picture

Yes, my statistics and physics professors just wouldn't stop talking about Marx.

DaveyJones's picture

weird cause mother said I didn't get enough marks

yogibear's picture

It goes on until the schools run out of debt slaves. Maybe they have figured it out that it's easier to live off the government tit and avoid school.

Shizzmoney's picture


Maybe they have figured it out that it's easier to live off the government tit and avoid school.

A) The govt tit doesn't openly exists like you think....unless you have a child.  Unemployment and food stamps even got cut under the "socialist" Obama.  

If you sire a child for the state, they'll gladly freeroll you some cheap shit.  Just another future ROI opportunity for them: either that kid will end up being a genius who contributes a shit ton of money in taxes (and a name that D.C. can tout as a "another feel good rags-to-riches" story), or he'll end up being another working class joe who the govt will take 37-47% of what he makes.

B) What those are really figuring out?  The degree just isn't worth it for 90% of occupations.  Why go to school for "x" major when your classmates ahead of you are still working 2-3 jobs that their HS peers can get (and the jobs "above" this don't pay much more!).

foodstampbarry's picture

.gov fucking up everything it touches

Rainman's picture

just wait until they start fixing the weather

Bear's picture

and almost everything else ... Impeach.gov

tommylicious's picture

This smacks of legacy entitlements.

nosoeawe's picture

this chart isn't for the 1%, its for everyone else. 

TheFreeLance's picture

That top line should be called the Belle Knox Erection.

gobsmack's picture

As the chart a couple weeks back showed the rise in the incomes of the top .01% accounts for nearly all of the gains in the top 1%.  Excluding the .01%, the 1% incomes are as flat as anyone else's.