Not really design-y or business-y but certainly still germane. This article from Fast Company, or Co. Design as this is from their spin-off, is about the potential of a bubble in the economy of student loans.
They claim that apparently because student loan debt isn’t erased in bankruptcy court the debt effectively just follows the student around their entire life, graduate or not. Connecting that fact with the high-unemployment, and thus higher rate of college applicants etc. etc. that this is and will have significant impacts on the American/Global economy.
It’s certainly an interesting take, they don’t really propose any better solution other than developing some means to show how much one can do and learn outside of college if they really want to make something for themselves. Building on the argument that college is doing nothing more than buying that ticket to a higher paying job, and the lack of skills it is providing are actually quite detrimental in terms of debt, but also in getting a job (which of course ties back to debt).
To me this highlights yet another fault in the premises the economy is built on. That pure bottom line mentality is eating us from the inside out. Politicians and corporations want to know how it will make them money and get them deals. In turn they exploit any option they can, and now they’ve really whittled down their options. They are literally preying on the futures of individuals, hopefully, striving to make a difference in the world, individuals that believe a higher education will help them do that more acutely, quickly and significantly. Now though, this is disappearing before our very eyes. How will the economy, and America, run when we have a bunch of “higher educated” individuals discussing the classics in shanty’s under bridges because they can’t get a loan to start a business or even a credit approval to rent an apartment…
Yeah, I took this pretty far, but my point is still the same, the definition of progress will have to change to continue making progress.
P.S. I didn’t look at the infographic/video