1. Peer Pressure
From the moment you start 6th grade, you are bombarded by modern man’s obsession with college admissions. Your friends constantly ask where you will fall prey in the college pyramid, and if you tell them that you’re not planning on being the sucker after you graduate high school, they will deflect a condescending demeanor upon you, and you will forever be celebrating birthdays alone. Finally, after a long day at school, you arrive home, greeted by two tigers, who order you to spend the rest of your evening studying, and doing whatever extracurricular activities will look appealing on a college application.
Now here’s where Madoff really kicks in. You make an oath to your lonesome self that you will never put this kind of pressure on you’re children; but that’s a crock of BS, you grow up to have kids, and while still barraged with student debt, you put tremendous pressure on them to follow your footsteps. What makes colleges so Ponzi-like is that they thrive on that American tradition, where kids follow their parents’ footsteps and attend their precious Alma mater. The University does not even have to market itself, their “victims” do all the marketing for them. Meanwhile, they proceed to inflate tuition costs, year after year. And that brings us to the next piece of the Pyramid puzzle.