Even the Good News on College Debt Is Bad

The University of Phoenix is shutting down 115 of its bloodsucking fake college locations in the U.S., about half of the total number of centers of flimflammery. This may be seen as part of the larger trend of the decline of so-called "for profit colleges," which is a good thing, in the sense that these schools are best not at education, but at sucking money out of desperate people who can scarcely afford it.

So, something for all the student-debt-wracked Americans to feel good about, briefly, for a fleeting moment, until you remember that these closings will result in hundreds of layoffs of the poor wage slave bastards who were just trying to get by while the big decision makers make out just fine, as always, and then you come back to the fact that the average student loan debt for the Class of 2011 is up 5%, to $26,500, and the fact that, even after you've assumed that debt, US business executives believe that there will not be high paying jobs for you in the future, because other countries' students probably studied harder and smoked less chronic than you in school, and will work for cheaper.

They probably have less debt, also.

[Photo: AP]