These days, college seems to be about two things: Getting a diploma so you can make money (students) and just making money (administration). I'm sure things are different at smaller, private schools, but as far as I can tell, State U. is pretty much the equivalent of beef feedlot. But I'm not cynical!

That said, grad school was the best eight years I ever spent. I recommend it to anyone who likes going to school, thinking, and talking (if you can do it without ending up in major debt). And as far as jobs go, teaching isn't half bad—at least there's a sense of trying to do something worthwhile. It's just demoralizing to have something you care about so cheapened.