<blockquote>Of course, one man’s burden is another man’s opportunity. Student debt in the United States now exceeds $1 trillion. Like cigarette duties or state lotteries, debt-financed accreditation functions as a tax on the poor. But whereas sin taxes at least subsidize social spending, the “graduation tax” is doubly regressive, transferring funds from the young and poor to the old and affluent.</blockquote>
via <a href="http://nplusonemag.com/death-by-degrees">n+1: Death by Degrees</a>.
<blockquote>As the credentialism compulsion seeps down the socioeconomic ladder, universities jack up fees and taxi drivers hire $200-an-hour SAT tutors for their children. The collective impact may be ruinous, but for individuals the outlays seem justified. As a consequence, college tuitions are nowhere near their limit; as long as access to the workforce is controlled by the bachelor’s degree, students will pay more and more.</blockquote>