The college-is-a-bubble meme just keeps growing. Student-loan debt surpassed credit-card debt for the first time in history last year. Tuition is rising at three times the rate of inflation, and there are growing concerns about the quality of education offered at even our nation’s fanciest schools. Meanwhile, prominent venture capitalist Peter Thiel is paying young entrepreneursto drop out of school. It’s become more fashionable than ever to equate higher education with homeownership: once a rock-solid piece of the American Dream, now a fool’s bet and a sad reminder of overinflated expectations.
But in reality, demand for an American-style college education, and the long-term value of said degree, is unlikely to decline any time soon. Here’s why: