In the off chance you’ve been sleeping under a rock with no Wi-Fi for the past 20 years, here’s some news: The U.S. educational system is under attack from multiple fronts and is on the verge of being reshaped by a profound entrepreneurial uprising.
This is acutely evident in higher education. Colleges are in an unsustainable arms race of spending on non-teaching lures – football stadiums and sushi-laden cafeterias – to attract students who can neither afford the cost of education nor find jobs to repay their debt once they’re out in the real world.
With more than $1.1 trillion of outstanding student debt, up to 40 percent of recent college grads are either unemployed or underemployed. In 2010, the unemployment rate for young workers aged 16-24 hit 19.6 percent…
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