April 9, 2015 - The Cost of a College Education

  • 04/09/2015

Fareed Zakaria, Kurt Metzger and Anya Kamenetz join Larry for a debate about the excessive cost of college tuition and ask whether a university degree is worth the price.

>> Larry Wilmore: TONIGHTLY.

( CHEERS AND APPLAUSE )

THIS! THAT'S RIGHT.

ALSO TONIGHTLY, YOU REALLY WANTMORE THAN THIS?

( CHEERS AND APPLAUSE )

AND LASTLY TONIGHTLY, I WANT TOTHANK YOU ALL FOR THIS --

( CHEERS )

THAT'S YOU GUYS.

WE'RE SHOWING SPANDEXSOLIDARITY.

WE'RE ALL STUFFED IN AND READYTO GO.

IT'S "THE NIGHTLY SHOW."

LET'S DO THIS, EVERYBODY.

( CHEERS AND APPLAUSE )

( CHEERS AND APPLAUSE )

>> Larry: YEAH!

THANK YOU VERY MUCH.

YES!

WELCOME TO "THE NIGHTLY SHOW."

THANK YOU VEY MUCH. THANK YOU.

>> Audience: LARRY!

LARRY!

LARRY!

>> Larry: THANK YOU VERY MUCH.

I'M LARRY WILMORE, AND, YES --NO, THAT'S BEAUTIFUL.

I APPRECIATE IT, AND, YES, I AMIN A SPANDEX TUX.

IT'S CALLED CLASS.

LOOK IT UP.

( LAUGHTER )

IN CASE SOME OF YOU AREWONDERING WHY I'M WEARING ALL

THIS MANLY SPANDEX, OR MANDEXAS I LIKE TO CALL IT -- IF YOU

DON'T KNOW I PROMISED IF DUKEWON THE N.C.A.A. CHAMPIONSHIP,

I'D HOST THE SHOW IN SPANDEX.

AND AS SOMEONE POINTED OUTEARLIER, WHY DID I DO THAT IF I

WAS THE BOSS?

( LAUGHTER )

THANK YOU VERY MUCH FOR POINTINGTHAT OUT.

WELL -- NOW HERE WE ARE, I'MTAKING MY MEDICINE.

I'M TAKING IT, RIGHT?

I'M DOING IT.

I'M DOING IT.

THIS IS WHAT I HAD TO DO.

( APPLAUSE )

IT'S ALL RIGHT.

IT'S OKAY-- I WANT TO THANK ALLTHE MEMBERS OF THE AUDIENCE WHO

WORE SPANDEX OUT OF SOLIDARITY.

TURN ON THE SPANDEX-CAM. LET'STAKE A LOOK AT THOSE PEOPLE.

YEAH.

♪ ♪

THAT'S WHAT WE'RE TALKING ABOUT.

THAT'S MY FANNED-EX PEOPLE OVERTHERE, YEAH.

THANK YOU GUYS SO MUCH.

I REALLY APPRECIATE ALL YOURSUPPORT.

OKAY, NOW --

>> HEY, LARRY.

WE NEED TO STOP FOR A SECOND.

>> Larry: OH, SHOOT, I'MSORRY.

THAT'S OUR DIRECTOR DRE.

WHAT HAPPENED?

WHAT DO WE DO?

>> I HATE TO DO THIS, LARRY, BUTWE'RE HAVING TROUBLE WITH YOUR

MICROPHONE.

THERE'S ANOTHER OVER AT STAGELEFT.

COULD YOU GO GRAB IT FOR US,PLEASE.

( LAUGHTER )

>> Larry: WHY SHOULD I --

( CHEERS )

>> Larry: I MEAN, I GUESS BUTIT SEEMS LIKE AN ODD REQUEST.

>> YEAH, I KNOW.

I'M SORRY.

>> Larry: OKAY.

I'LL GO GET IT.

I MEAN, OVER HERE?

( CHEERS AND APPLAUSE )

DRE, I DON'T-- I DON'T SEE IT,WHERE IS IT?

>> UH, THERE IS NO MICROPHONE,LARRY.

YOUR MIC IS FINE.

WE JUST WANTED TO MAKE YOU STANDUP IN THAT SPANDEX.

>> Larry: OH, VERY FUNNY, VERYFUNNY.

THAT'S NOT RIGHT.

( APPLAUSE )

THAT'S NOT RIGHT, DRE.

IT'S NOT RIGHT.

YOU'RE GOING TO EDIT THIS OUT,RIGHT?

OH, YEAH, ABSOLUTELY.

( LAUGHTER )

>> Larry: ALL RIGHT, OKAY.

THE FIRST THING I WANT TO SHOWYOU GUYS TONIGHT IS SOMETHING

VERY INTENSE, OKAY.

I'M WARNING YOU, VIEWERDISCRETION ADVISED.

♪ ♪

>> Larry: THAT'S RIGHT.

THAT WAS TWO PANDAS DOING IT,OKAY.

THIS IS A REAL NEWS STORY, GUYS.THIS IS A REAL NEWS --

PANDAS AT A CHINESE ZOO SET ANEW SEX RECORD BY GOING AT IT

FOR 18 MINUTES AND THREESECONDS.

WOW.

RIGHT, RIGHT?

NO, HEY.

17 MINUTES LONGER THAN SOME LATENIGHT HOSTS LAST.

( LAUGHTER )( APPLAUSE )

JUST SAYING, SOME, JUST SAYING.

THANKS FOR THE SUPPORT.

OH, A LOT OF SUPPORT.

WHAT MOST PEOPLE MIGHT NOT BEAWARE OF IS HOW RARE PANDA SEX

ACTUALLY IS.

THE FEMALE IS ONLY FERTILE FORLIKE A 36-HOUR WINDOW ONCE A

YEAR. OKAY?

AND MALES HAVE SUCH A LOW SEXDRIVE THAT THEY ACTUALLY HAVE TO

GIVE THEM VIAGRA AND SHOW THEMPANDA PORN.

( LAUGHTER )

I MEAN, YOUR HEART BREAKS FORALL THOSE POOR PANDAS WHO

HAD DREAMS OF BEING LEGITIMATEACTORS BUT WERE REDUCED TO

PANDA PORN, RIGHT?

"HEY MAN, I SAW YOU ON CINEMAXTHE OTHER NIGHT."

"WELL, YOU KNOW, ONCE KUNG FUPANDA WENT ANIMATED --

PANDAS GOTTA PAY THE BILLS,MAN."

ALL RIGHT, ALL RIGHT, LET'S GETDOWN TO BUSINESS.

OKAY, IT'S APRIL, AND YOU KNOWWHAT THAT MEANS.

WELL, ONE IT'S TIME FOR MYANNUAL PILGRIMAGE TO COACHELLA,

BUT WE'RE NOT TALKING ABOUT THATTONIGHT.

THAT WAS ONE OF THE DARES BY THEWAY.

THE SPRING ALSO MEANS IT'SCOLLEGE ACCEPTANCE LETTER

SEASON.

RIGHT NOW, ALL ACROSS THECOUNTRY, THOUSANDS OF AMBITIOUS

KIDS ARE WAITING TO HEAR WHETHERTHEY'VE BEEN ACCEPTED TO SCHOOLS

LIKE HARVARD AND PRINCETON ANDTHOUSANDS OF LESS-AMBITIOUS KIDS

ARE WAITING TO SEE IF THEY GOTINTO BROWN.

NOW --

CALM DOWN, BROWN.

WE SAID THAT BECAUSE ONE OF OURWRITERS, JORDAN CARLOS, WENT

THERE.

WE DON'T HATE YOU.

WE HATE HIM.

( LAUGHTER )

( APPLAUSE )

BUT THIS YEAR'S COLLEGEACCEPTANCE PROCESS FEELS A

LITTLE DIFFERENT BECAUSERECENTLY A FEW PROMINENT PEOPLE

HAVE CALLED THE VALUE OF THE OFA UNIVERSITY EDUCATION INTO

QUESTION.

>> THIS IS MICHAEL BLOOMBERGWE'RE TALKING ABOUT.

HE'S A BILLIONAIRE, HE'S THEFORMER MAYOR OF NEW YORK CITY.

HE SAID COLLEGE MIGHT NOT BEWORTH IT FOR EVERYONE.

IF HE'S NOT GOING TO GO TO AGREAT SCHOOL AND HE'S NOT SUPER

SMART ACADEMICALLY BUT IT SMARTIN DEALING WITH PEOPLE CAN THAT

SORT OF THING, BEING A PLUMBERIS A GREAT JOB.

>> Larry: WAIT, IS BLOOMBERGSAYING PLUMBERS ARE DUMB?

THAT'S HOW YOU'RE SELLING IT?

HEY, JOHNNY, LOOK, I KNOW YOUWANT TO GO TO HARVARD, BUT

YOU'RE AN IDIOT.

SEE THAT CLOGGED TOILET?

THAT'S YOUR FUTURE.

( LAUGHTER )

SORRY, I'M THE ONE THAT CLOGGEDIT, JOHNNY.

I APOLOGIZE.

DOESN'T MAKE SENSE.

BLOOMBERG ISN'T THE ONLUCOLLEGE-EDUCATED BILLIONAIRE

AGAINST COLLEGE.

PETER THIEL, A BILLIONAIREVENTURE CAPITALIST, HAD THIS TO

SAY.

>> PEOPLE ARE BEING CONNED INTOTHINKING THIS CREDENTIAL IS THE

ONE THING YOU NEED TO DO BETTERIN LIFE AND THEY'RE ACTUALLY NOT

ANY BETTER OFF AFTER HAVING GONETO COLLEGE.

THEY ARE TYPICALLY WORSE OFFBECAUSE THEY'VE AMASSED ALL THIS

DEBT.

>> Larry: OKAY, ALL RIGHT, NOWI'M A LITTLE CONCERNED.

TWO BILLIONAIRES ARE WARNING USTHAT COLLEGE COSTS TOO MUCH.

THAT'S NOT GOOD.

IT'S LIKE WHEN AL QAEDA WASCLAIMING ISIS GOES TOO FAR.

WE SHOULD HAVE LISTENED TO THAT,RIGHT?

WELL, HOW EXPENSIVE COULD IT BE?

AND BEFORE WE LISTEN TO THESOUNDBITES LET ME TAKE A SIP OF

THIS DELICIOUS WATER.

GO AHEAD.

>> OVER THE LAST 30 YEARS,COLLEGE TUITION HAS SKYROCKETED.

SINCE 1978, TUITION AND FEESINCREASED 1,120%.

( LAUGHTER )

( APPLAUSE )

>> Larry: I DID NOT EXPECTTHAT INFORMATION!

( CHEERS AND APPLAUSE )

OH MY GOD.

WAIT.

HOW MUCH WAS THAT AGAIN?

WAIT, I'LL STILL THIRSTY.

>> 1,120%.

( LAUGHTER ) ( CHEERS )

>> Larry: OH MY GOD.

SO THE PRICE WENT UP 1,120%.

NOW I KNOW YOU WERE NOT TURNINGOUT KIDS WHO ARE 1,120% SMARTER.

WE HAVE COLLEGE INTERNS.

I KNOW THIS.

>> Audience: BOO!

>> Larry: OKAY, I'M SORRY.

NOW, YOU WOULD THINK THERE WOULDBE A GOOD REASON FOR THE

CONTINUAL INCREASE OF COSTS, BUTACCORDING TO STEPHEN

TRACHTENBERG, THE FORMERPRESIDENT OF THE GEORGE

WASHINGTON UNIVERSITY, THERE ISNO REASON -- EXCEPT FOR THE FACT

PEOPLE WILL PAY IT. RIGHT?

SO IN FEBRUARY, THE "NEW YORKTIMES" QUOTED HIM AS SAYING

COLLEGE IS LIKE VODKA-- PEOPLEWILL SPEND $30 FOR A BOTTLE OF

ABSOLUT BECAUSE OF THE BRAND.

THAT'S ABSOLUTE BULL[BLEEP].

HE COMPARES YOUR EDUCATION TOPRICE-GOUGING ON A SUPPOSED

LUXURY ITEM.

AND HE'S NOT ALONE.

THERE REALLY IS NO GOOD REASONFOR THESE ESCALATING COSTS FOR

ANY INSTITUTION.

SO HERE'S WHAT WE DO.

WE THOUGHT WE'D TALK TO OURCOLLEGE EXPERT, LATE-90s FRAT

BOY AND COLLEGE ENTHUSIAST,D-TRAIN.

HEY, D-DRAIN OF TRAIN.

>> JUST GIVE ME A SECOND HERE.

UH-HUH. UH-HUH. YEAH.

I DON'T GIVE A [BLEEP].

I WANT THE MOON ROOF.

OKAY, I GOTTA RUN.

>> Larry: D-TRAIN.

>> WHAT'S UP, L-DUBS. HOW ARE YABUDDY.

>> Larry: HOW YOU DOING,D-TRAIN.

>> I GOTTA TELL YOU RIGHT NOW, ILOVE THE LOOK.

I'M PSYCHED TO FINALLY SEE YOURJUNK, BRO.

>> Larry: THANKS, I -->> LOOKIN' GOOD, BABY.

>> Larry: THANK YOU, D-TRAI.LET'S FOCUS ON TONIGHT'S ISSUE.

>> FOCUS, FOCUS.

>> Larry: YES, NOW YOU'VE BEENOUT OF SCHOOL FOR 15 YEARS.

>> DON'T TELL THE LADIES, ALLRIGHT?

>> Larry: NO, I WON'T. I WON'T.

SO WAS COLLEGE WORTH IT FOR YOU?

>> HELL, YEAH, MAN. THEY DAY IGRADUATED, I LANDED A KUSH JOB

AT A KICKASS HEDGE FUND MAKINGLIKE, $200K A YEAR, PLUS BONUS.

>> Larry: OH WOW, SO YOUR DEGREEREALLY LANDED YOU A REALLY GOOD

JOB THEN.

>> HELL YEAH, IT DID, MAN.

YOU KNOW, NOT AS MUCH AS MYDEGREE, YOU KNOW, AS MY UNCLE.

HE RUNS THE PLACE.

BUT STILL, IT WASN'T A SHOO-IN,LARRY.

I HAD A TOUGH INTERVIEW, YOUKNOW, OVER THANKSGIVING ONE

NIGHT.

WE TALKED, YOU KNOW. IT WAS ABITCH.

BUT I GOTTA SAY, I CRUSHED,'CUASE THAT'S HOW SIG EP DOES,

BABY.

BOOM! YOU KNOW WHAT I MEAN?

COLLEGE, MAN, I LOVE IT.

>> Larry: OKAY, SO YOU GOTHOOKED UP WITH A JOB.

WHAT ABOUT ALL THE DEBT YOUACCUMULATED IN COLLEGE?

>> DEBT? NO NEGATORY, BABY. THED-TRAIN IS DEBT-FREE.

ALL RIGHT. HERE'S HOW IT WENT.

MY FAVORITE GRANDMA DIED.

SHE HOOKED ME UP WITH A SWEETTRUST, YOU KNOW.

I TURNED 22 WAS LIKE, WHAT!

SOMEONE'S GETTING A THIRDJETSKI.

YOU KNOW WHAT I MEAN?

( LAUGHTER )

>> Larry: SO COLLEGE WAS ALLPARTYING FOR YOU?

>> NOT ALL, MAN, I HAD TO CRAMFOR FINALS.

OF COURSE, ONE OF MY FRAT BROS,CALLED HIM HORN DOG, HE WAS A

T.A.

SO HOOKED ME UP WITH A COPY OFTHE EXAM, YOU KNOW.

HORN DOG, YOU'RE THE BEST.

>> Larry: SO D-TRAIN, ALL DIDYOU WAS LEARN TO LIE AND CHEAT

IN COLLEGE.

THAT'S ALL DID FOR YOU?

>> THAT'S NOT NOT ALL IT DIDBECAUSE WITHOUT THAT SKILL I

WOULD NOT BE CRUSHING IT ON WALLSTREET RIGHT NOW.

OKAY.

( CHEERS AND APPLAUSE )

I'M TELLING YOU, DUDE.

CANNOT-- AND THIS IS TRUE,LARRY, IT'S A FACT-- YOU CANNOT

TURN WORTHLESS PAPER INTO HEAPSOF UNTRACKED CASH IF YOU DON'T

KNOW HOW TO BEND THE TRUTH.

>> Larry: I GOT IT, I GOT IT.

SO D-TRAIN, IF I CAN SYNTHESIZETHIS, YOUR MESSAGE IS IF YOU'RE

BORN INTO A RICH FAMILY AND HAVEA CONNECTED UNCLE, YOU CAN

ACHIEVE THE AMERICAN DREAM?

>> YEAH, THAT'S SERIOUSLY WHY IDON'T UNDERSTAND WHY PEOPLE ARE

WINING ABOUT THIS CRAP.

IT'S NOT THAT HARD.

YOU JUST GO TO COLLEGE AND LIFTYOURSELF UP BY YOUR UNCLE'S

BOOTSTRAPS.

YOU'RE DONE.

>> Larry: D-TRAIN, ONCE AGAINTHIS WAS NOT REMOTELY HELPFUL.

>> ANY TIME, BABY.

HAPPY TO HELP.

>> Larry: D-TRAIN, EVERYONE.

WE'LL BE RIGHT BACK.

( CHEERS AND APPLAUSE )

>> Larry: THANK YOU. WELCOMEBACK.

WE'RE BACK TALKING ABOUT WHETHERA COLLEGE EDUCATION IS WORTH THE

COST.

JOINING ME ON THE PANEL TONIGHT:COMEDIAN, HOST OF THE "RACE

WARS" PODCAST AND WRITER ON"INSIDE AMY SCHUMER,"

KURT METZGER.

( CHEERS AND APPLAUSE )

EDUCATION BLOGGER AT NPR ANDAUTHOR OF "GENERATION DEBT,"

ANYA KAMENETZ.

( CHEERS AND APPLAUSE )

AND AUTHOR OF "IN DEFENSE OF ALIBERAL EDUCATION" AND HOST OF

"FAREED ZAKARIA GPS" -- APTLYNAMED -- ON CNN, FAREED ZAKARIA.

>> THANKS. THANKS FOR HAVING ME,GUYS.

( CHEERS AND APPLAUSE )

>> Larry: I THINK THIS IS ONEOF THOSE ISSUES, I THINK ALMOST

EVERYBODY CAN RELATE ON THISTHING.

BUT I WAS SHOCKED BY THESTATISTIC THAT SINCE 1978, THE

COST OF COLLEGE TUITION HASRISEN 1,120%.

THAT'S STAGGERING.

AND LIKE, IF YOU WANT TO SENDYOUR KID TO A DECENT SCHOOL,

IT'S AT LEAST 30,000, PROBABLY50,000.

I THINK WE ALL AGREE, WE CAN ALLAGREE WE DON'T NEED NO THOUGHT

CONTROL, RIGHT?

BUT CAN WE ALL AGREE THAT WEDON'T NEED NO EDUCATION?

IS COLLEGE REALLY WORTH IT,FAREED?

>> YOU KNOW, THE SIMPLE ANSWER,LARRY, IS YES.

THE TRUTH OF THE MATTER IS, IFYOU LOOK AT THE DATA-- FORGET

ANECDOTES HERE AND THERE-- ITIS ABSOLUTELY CLEAR THAT PEOPLE

WHO GO TO COLLEGE, PEOPLE WHO GOTO A FOUR-YEAR COLLEGE MAKE

SUBSTANTIALLY MORE MONEY OVERTHE COURSE OF THEIR LIFETIME.

THE NEW YORK FED HAS DONE A BIGSTUDY.

DAVID LEONARD OF THE "NEW YORKTIMES" --

IF YOU LOOK AT THE NUMBERS, IT'SABSOLUTELY CLEAR.

AND I POINT OUT --

>> Larry: WHEN DO THE PEOPLECOMING OUT OF COLLEGE GET TO

LOOK AT THOSE NUMBERS, LIKE 30YEARS LATER, 50 YEARS LATER?

>> IT'S THE PEOPLE WHO DIDN'T GOTO COLLEGE ALSO HAVE TO LOOK AT

THOSE NUMBERS 30 YEARS LATER.

THE POINT IS, LOOK AT THOSE TWOGUYS WHO YOU HAD ON.

MIKE BLOOMBERG WENT TO PRINCETONAND HARVARD BUSINESS SCHOOL.

PETER THEIL WENT TO STANFORD ANDSTANFORD LAW SCHOOL.

THIS IS A CASE OF DON'T DO WHATI DO, WHAT I DID, FOLLOW WHAT

I'M SAYING.

>> Larry: MARK ZUCKERBERGDROPPED OUT OF COLLEGE,

BILLIONAIRE.

STEVE JOBS.

BILL GATES.

THERE ARE A LOT OF EXAMPLES OFBILLIONAIRES WHO DROPPED OUT OF

COLLEGE.

BUT THE QUESTION IS, IS THE COSTTOO MUCH FOR WHAT YOU'RE GETTING

FOR EVERYBODY.

BECAUSE I KNOW THERE AREOUTLIARS.

GO AHEAD, ANYA.

>> I MEAN, YOU CAN CITE AVERAGESALL YOU WANT, BUT PEOPE DON'T

GO TO COLLEGE ON AVERAGE, THENUMBER WE SHOULD BE PAYING

ATTENTION TO IS 59%.

THAT'S THE NUMBER OF PEOPLE WHOSTART A FOUR-YEAR DEGREE WHO

ACTUALLY FINISH IT.

>> Larry: 59%.

>> 59% WHO START A FOUR-YEARDEGREE THAT ACTUALLY FINISH IT.

>> Larry: I THINK I HUNG OUTWITH THE OTHER 41.

>> SO YOU KNOW, THE WAY THISTHING WORKS IS, THERE ARE A

LOT OF PEOPLE FOR WHOM IT'SABSOLUTELY A RIP-OFF AND THAT'S

WHO WE SHOULD BE PAYINGATTENTION TO.

>> Larry: IS "RIP-OFF" THERIGHT TERM, KURT?

>> YEAH, RIP-OFF'S THE RIGHTWORD.

EDUCATION IS WORTH IT, BUT NOTIF IT IS LIKE, $250,000.

THAT'S - I COULD BE O.T.3 ON THEBRIDGE TO FREEDOM FOR THAT

MONEY.

>> Larry: THAT'S KIND OF THEISSUE, NOT THAT EDUCATION IS NOT

WORTH IT AND YOU SHOULD HAVE ANEDUCATION AND IT CAN DEFINITELY

HELP YOU, BUT IS IT WORTH IT ATTHAT COST FOR MOST PEOPLE?

>> WE'RE IN A KNOWLEDGE ECONOMYWHERE THE PEOPLE WHO MAKE MONEY

TEND TO HAVE COLLEGE DEGREES.

NOW, THE GOOD NEWS TO YOURQUESTION IS YOU ARE SEEING A

REVOLUTION THAT IS IT GOING TOAFFECT COLLEGE COSTS.

THIS WHOLE ONLINE EDUCATION --

>> Larry: UNIVERSITY OF PHOENIX.

>> ALL OF THEM.

ALL OF THEM.

>> NOT SO MUCH.

>> BASICALLY, AS LONG AS YOUCAN --

>> Larry: WAIT, FAREED, WOULDYOU HAVE GONE TO AN ONLINE

COLLEGE?

BE HONEST.

>> I GOT A FULL SCHOLARSHIP.

I WAS VERY LUCKY.

BUT THE TRUTH OF THE MATTER IS-- NO!

( LAUGHTER )

MY POINT IS I WOULDN'T HAVE BEENABLE TO GO.

YOU'RE EXACTLY RIGHT.

BUT I GOT LUCKY.

IMAGINE SOMEBODY WHO SAYS, "ICAN'T AFFORD TO GO TO COLLEGE."

BUT I'M GOING TO TAKE 25 COURSESONLINE ON ONE OF THESE ONLINE--

FOR FREE, OR FOR A COUPLE OFHUNDRED DOLLARS."

AND THEN YOU GO TO AN EMPLOYERAND YOU SAY, "LOOK, I'VE TAKEN

ALL THESE COURSES.

I'VE DONE WELL.

WILL YOU GIVE ME THE JOB?" IFTHE EMPLOYER SAYS YES, BOOM.

THERE GOES THE COLLEGES' PRICINGPOWER.

RIGHT? THE COLLEGE CAN'T CHARGE50 GRAND --

>> Larry: AND THEN HE SAY, "GETIN EARLY BECAUSE WE START THE

BIG MACS AT 7:00."

SO HURRY UP--

( LAUGHTER )

( APPLAUSE )

NO, NO, NO. OKAY, LET ME ASK YOUTHIS --

WHAT'S WRONG WITH TELLING KIDSNOT TO GO?

WHAT'S WRONG WITH VOCATIONALJOBS?

I MEAN, BLOOMBERG BROUGHT UP THEWHOLE PLUMBER THING.

>> PEOPLE ACT LIKE THAT WASMEAN.

BUT WE'RE TALKING ABOUT BACKTHERE, THAT'S AN IMPORTANT JOB.

IT'S NOT LIKE YOU'RE A LOSERBECAUSE YOU HAVE A TRADE AND

THEY MAKE IT OUT LIKE THAT.

AMERICA IN GENERAL THEY DO THATWHERE THEY TELL YOU HARD WORK,

THE DIGNITY OF WORK -- AND WE'RELIKE, "COULD YOU PAY ME ENOUGH

TO LIVE?"

WELL, THAT'S A CHILD'S JOB.

YOU HAVE A LOSER'S JOB! THAT'SWHY I DON'T HAVE TO PAY YOU.

>> Larry: I'M NOT TRYING TO BEDOWN ON COLLEGE BUT I'M SAYING

NOT EVERYBODY NEEDS TO GO.

AT HIGH SCHOOLS MAYBE THEYSHOULD HAVE COLLEGE COUNSELORS

AND KEEP IT REAL COUNSELORS.

I'M HERE TO SEE THE COLLEGECOUNSELOR.

NO, YOU'RE GOING OVER THERE.

>> THE GUY WHO SAYS TO THEKID,"YOU'RE DUMB. YOU DON'T

NEED" -- I DON'T THINK THAT'SFAIR.

>> Larry: NOT "YOU'RE DUMB."

NO, NOT "YOU'RE DUMB."

COLLEGE MAY NOT BE THE RIGHTROUTE.

>> THE TRUTH IS THERE ARE A LOTOF TECHNICAL DEGREES THAT DO PAY

MORE THAN A BACHELOR'S DEGREE,BUT WHAT WE'RE WARY OF IN

AMERICA IS SAYING TO ANYONE THATWE'RE GOING TO DECIDE THEIR

FUTURE FOR THEM, AND THAT'S NOTRIGHT.

>> Larry: RIGHT. NO, NO, I'M NOTSUGGESTING THAT.

>> IN AMERICA THE TRADITION HASBEEN YOU GET A BROAD GENERAL

EDUCATION PARTLY BECAUSE THEECONOMY CHANGES SO MUCH YOU

DON'T -- A COLLEGE PRESIDENTSAID OUR JOB IS TO PREPARE YOU

NOT JUST FOR YOUR FIRST JOB, BUTYOUR SIXTH JOB.

YOU'RING PROBABLY GOING TO HAVEA BUNCH OF DIFFERENT JOBS OVER

50 OR 60 YEARS.

>> Larry: BUT ARE WE PREPARINGOUR KIDS IN HIGH SCHOOL.

ARE WE EVEN PREPARING THEMFOR COLLEGE TO COMPETE.

>> WELL, THIS IS WHY THEPRESIDENT WANTS TO DO FREE

COMMUNITY COLLEGE, RIGHT?

BECAUSE A HIGH SCHOOL DIPLOMA --THE NUMBERS JUST CAME OUT,

$9,500/ YEAR, THAT'S WHAT YOU'REGOING TO EARN IF YOU HAVE A HIGH

SCHOOL DEGREE OR LESS --

>> Larry: COMMUNITY COLLEGES AREDIRECT FUNNELS TO HARVARD AND

YALE. RIGHT, FAREED.?

>> THE POINT IS YOU NEED SOMEEDUCATION BEYOND HIGH SCHOOL.

THAT'S OBVIOUS.

BUT THE QUESTION IS --

>> Larry: IF YOU WANT TO COMPETEAT A CERTAIN LEVEL AND CERTAIN

TYPES OF JOBS.

>> FORGET COMPETING.

IF YOU WANT TO PAY THE BILLS,MAKE ABOVE MINIMUM WAGE, YOU

NEED SOMETHING BEYOND COLLEDGE,BEYOND HIGH SCHOOL.

AND THAT'S WHAT PEOPLE ARESAYING RIGHT NOW.

>> Larry: SOMETIMES WHATYOU'RE PAYING FOR, HARVARD AND

YALE, SOMETIMES WHAT YOU'REPAYING FOR IS ACCESS TO A

CERTAIN COMMUNITY, ACCESS TO ACERTAIN TYPE OF GROUP.

YOU'RE NOT PAYING--

BECAUSE PHYSICS IS THE SAME NOMATTER WHERE YOU ARE, RIGHT?

( APPLAUSE )

I MEAN, AT THE UNIVERSITY OFMINNESOTA, WATER FREEZES AT 32

DEGREES JUST LIKE IT DOES ATHARVARD, RIGHT?

BUT AT HARVARD YOU'RE TALKING TOTHE GUY WHO CAME UP WITH THAT

( BLEEP ).

HIS GRANDDAUGHTER.

THAT'S THE DIFFERENCE.

>> THE TOP COLLEGES AREBASICALLY CHARGING FOR ADMISSION

TO A PRIVATE CLUB.

>> Larry: I'M VERY CONCERNEDABOUT KIDS, THOUGH, THAT COME

OUT AND THEY'RE THIS DEBT FORYEARS AND YEARS, AND THEY HAVE A

QUALITY EDUCATION, AND THERE'SNOT MUCH OF A JOB IN THEIR

FUTURE.

>> YOU THINK THAT'S WHY THEYMAKE MORE MONEY BECAUSE THEY

HAVE AN OMINOUS DEBT HANGINGOVER THEIR HEAD, MOTIVATING THEM

EVERY DAY.

>> Larry: NOW ONE THING IWILL SAY, PLACES LIKE STANFORD,

I THINK STANFORD HAS LIKE, A $21BILLION GRANT.

THEY'RE OFFERING FREE EDUCATIONFOR PEOPLE UNDER I THINK

$100,000 PAYMENT.

I THINK SCHOOLS WITH THIS KINDOF MONEY SHOULD JUST MAKE IT

FREE FOR EVERYBODY.

WE'LL BE RIGHT BACK, AND WE'LLTALK ABOUT IT.

( CHEERS AND APPLAUSE )

( CHEERS AND APPLAUSE )

>> Larry: ALL RIGHT, YEAH.

WELCOME BACK, EVERYBODY.

OKAY, WE'RE GOING TO PLAY A GAMECALLED "B.A. OR B.S.."

OKAY? IT'S A SPEED ROUND.

I'M GOING TO NAME A SUBJECT YOUCAN MAJOR IN AT COLLEGE.

THESE ARE REAL MAJORS WE FOUNDAT COLLEGES, OKAY.

IF YOU TELL-- YOU CAN TELL MEWHETHER IT'S WORTH WHILE, A

B.A., OR IF IT'S WORTHLESS B.S.

NO QUALIFICATIONS.

THIS IS A KEEP IT 100 SCENARIO.

IF YOU THINK IT'S B.S. YOU HAVETO SAY WHY.

SO WE'LL GO THROUGH THESE.

THESE ARE ACTUAL ONES.

CANIBUS CULTIVATION.

B.A. OR B.S.?

>> TOTAL B.A.

GROWTH INDUSTRY.

>> YEAH, B.A.>> I'D GIVE IT A B.A.

>> Larry: ABSOLUTELY.

THAT IS A GROWTH INDUSTRY.

VERY WELL PUT.

SLAVIC AND EAST EUROPEANSTUDIES?

>> B.A. BUT-->> YOU HAVE TO TRY TO FIGURE OUT

WHAT TO DO WITH RUSSIA? THAT'SSLAVIC STUDIES.

YOU WANT TO GO DO BUSINESSTHERE?

>> Larry: THAT'S A LEGIT JOB.

>> UKRAINE SAY GROWTH MARKET.

>> I'M GONNA HAVE TO SAYB.A. BECAUSE I LOOK LIKE A-- A

COMBINATION OF--

>> Larry: HELP YOU ON UBER.

>> WELL, YEAH.

I LOOK LIKE A GUY LIAM NEESONWOULD KILL IN A MOVIE.

SO I HAVE TO GO WITH B.A.

>> Larry: THAT'S WHY IT'S B.A.?B.S. OR B.A.

>> YEAH, I WANT TO LEARN ABOUTWHY HE'S KILLING US.

>> Larry: B.S., RIGHT?

>> (SPEAKS IN RUSSIAN), NO.

>> Larry: THERE, NICE.

OKAY, ART SEMIOTICS.

EXACTLY, B.S.

EXACTLY.

( LAUGHTER )

OKAY, FERMENTATION SCIENCES.

>> B.A.

>> B.A.

>> Larry: THAT SOUNDS LIKE ITCOULD BE LEGIT.

>> B.S. IN THE SENSE OF BACHELOROF SCIENCE, MAYBE.

>> Larry: WHAT ARE YOU MAKINGHOOCH? WHAT IS THAT FOR?

OKAY, SO. FLORAL MANAGEMENT, YOUCOULD LEARN THAT AT A FLOWER

PLACE.

OH, WAIT -- BOWLING MANAGEMENT.

>> NO, NO, NO.

>> B.S.

>> Larry: YOU CAN LEARN THATIN A BOWLING ALLEY.

ANYTHING YOU LEARN IN A BOWLINGALLEY SHOULDN'T BE TAUGHT IN

COLLEGE.

THIS IS TRUE -- AT U-CONN,PUPPETRY IS A MAJOR.

>> I SAY B.A. BECAUSE PEOPLE DOTHAT.

THE MUPPETS ARE A REAL THING.THEY HAVE TO MAKE NEW "STAR

WARS."

( APPLAUSE )

>> Larry: YOU KNOW, BECASUE THEYMAKE ME FEEL HAPPY, I'M GONNA

SAY B.A.

ALL RIGHT, CANADIAN STUDIES.

( LAUGHTER )

>> I'D SAY B.A., BUT VERYBORING.

>> OH YEAH, I'D SAY B.A.

>> Larry: ALL RIGHT, EVERYBODYGETS A DEGREE HERE.

THERE'S YOUR DEGREE.

FROM THE WILMORE ONLINEUNIVERSITY.

WILMORE ONLINE.

WE'LL BE RIGHT BACK.

CONGRATULATIONS, EVERYBODY.

( CHEERS AND APPLAUSE )

>> Larry: YEAH, RIGHT HERE.

THAT'S ALL THE TIME WE HAVE FORTONIGHT.

I WANT TO THANK OUR PANELISTKURT METZGER, ANYA KAMENETZ, AND

FAREED ZAKARIA.

GIVE THEM A NICE ROUND OFAPPLAUSE.

FINALLY, YOU GUYS!

TAKE A LOOK AT ALL OF THISSPANDEX SOLIDARITY.

GIVE YOURSEVLES A ROUND OFAPPLAUSE.

THANKS TO ALL OF YOU HERETONIGHT AND TO EVERYONE AT HOME

FOR ALL THE SPANDEX SOLIDARITYON TWITTER.

YOU ALL LOOK FANTASTIC.

"THE NIGHTLY SHOW" IS ALL NEWNEXT WEEK.

UNTIL THEN, GOOD NIGHT,EVERYONE.

( APPLAUSE )