Doctor Of Now What?

A new report says almost two thirds of student loans at for-profit colleges are not being repaid. The statistic calls into question some for-profit programs' ability to prepare graduates for finding jobs, and the Obama administration has proposed cutting off federal loans to the programs with the worst repayment rates. About two-thirds of students in the class of 2013 said that they were concerned about their ability to pay for college.

Although one measure of an academic program's success is the number of PhDs it turns out, one psychology professor at the University of Kentucky has decided to stop admitting Ph.D. students because there aren't enough jobs waiting for grads to justify the effort & expense of their study.

Does A PhD = A Ponzi Scheme? Audio Embed: PRI & WNYC's program The Takeaway, 8/19/10, Hosts: Celeste Headlee & Miles O'Brien.