Glorification of college degrees is an issue across the world that started because parents wanted their children to have a better future but clearly it backfired tremendously by creating a huge debt sink and people that spend 10 years in college, go out to the real world and can't do shit because academics is only half of what you need to function in society and sometimes these people are not ready at all for the shock.
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I was 23 when I arrived in Finland and most people were yet to have their first job. The current state is that people are coming out of university after being carried by their parents til the age of 25 expecting to go into work that allows them to buy an apartment. 15 years ago, personal debt (besides house) was almost unheard of while now it is skyrocketing as people are trying to satisfy their desires on credit. These things are connected.
They are connected indeed, I don't know if it's due to personal expectations or social pressure but people are more willing to go into insane debts they can't possibly afford to pay, furthering them into dependence and for those people expecting a job in the weird field they where encouraged to study well... We surely will have a lot of trouble dealing with this in the following years...
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I think that it is part of the push of consumerism, the drive for profit. The environments are engineered so that people are more predisposed to buying on the future.
Borrowing from the future but eventually someone has to pay.....
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I definitely agree with you @lunaticpandora. People need street smarts aka social skills in addition to that piece of paper. I also don't understand the willingness to go into so much debt. Colleges today are also indoctrination camps for bringing in the NWO.