I read this article on the NYT about college students graduating with debt: http://www.nytimes.com/2010/05/29/your-money/student-loans/29money.html?src=me&ref=homepage The piece only focused on a single case but I know a few cases similar to this one and many of you (or yourself) have probably seen something similar. I can't believe this lady wasted $50,000/year at NYU to end up at a job earning $22/hour ($42,000ish/year) and still $97,000 in the red! Just as I suspected, that NYU stamp is actually worthless (I've interacted with my fair share of NYU students, many of them are morons). Probably worse for those medical/law school students over $100,000 in debt that takes years to pay back; the most telling case is that of the Obamas, who I believe paid off their graduate school debts only after President Obama's books became best-sellers. Why do so many people think they will land a "great" job after college when the supply of "great" jobs is finite? The median income for lawyers (according to the BLS) is around $110,000/year; I guess law is not such a profitable career after all, not everyone becomes a partner, yes? I might graduate from a low-ranked state school and land a decent job making $40,000/year but at least that money is only shared between myself and the taxman. Why are so many idiots chasing tulips?