Adam Ruins Everything (Season 2, Episode 7: Adam Ruins College): how financially naive young adults end up in the grip of neoliberal economic ideology

Paul Briganti, “Adam Ruins Everything (Season 2, Episode 7: Adam Ruins College)” (2017)

Aiming squarely at its target audience of US high school students and undergrads, this episode is nevertheless of interest to foreigners who coasted through undergraduate university and college courtesy of government-funded grants or scholarships, or even enjoyed free tuition, and might be mystified as to how and why Americans these days land themselves in life-long debt because of … student loans! Adam Conover takes prospective college student Cole (Lukas Gage) and the audience through what almost amounts to a labyrinth of why going to college these days is so necessary – because most jobs in the future will demand a college degree – yet how going to college can become an unnecessary financial millstone around young people’s necks.

Initially Cole thinks he can be like Bill Gates and become a drop-out tech billionaire. Not so fast, Adam points out – most people who have only a high school diploma will eventually end up, at every stage of their career, earning less than someone with a college degree. Quickly convinced by Adam’s argument, Cole decides to read the US News & World Report’s college rankings guide on what college to choose – only for Adam to explain how the guide is manipulated by college administrators and ultimately can’t advise on the best colleges to attend with respect to the quality of education offered. Moving into a noisy student party, Adam and Cole shout their way through a quick history of lending to college students: initially government funded and regulated, the institution known as Sallie Mae was privatised in the 1990s and almost immediately began to exploit naive 18-year-olds for profit in much the same way that banks began pushing subprime mortgages onto people with suspect credit histories who could not pay off their housing loans.

In spite of the happy atmosphere and Cole’s kooky, gullible nature, the episode does deliver a very grim message: to get ahead in life, people need college degrees but may risk acquiring a huge debt that only could take a life-time to pay off but which could also affect their eligibility for future social welfare, not to mention limiting their choices as to work, having shelter and even planning a family. Happily Adam suggests to Cole that he should see a financial advisor about the kind of loan that would suit him and that community college or a publicly funded college may be a better option than going to an expensive Ivy League university.

The action seems a lot more histrionic and the whackiness has a forced quality about it due to over-acting on Conover and Gage’s part. Oddly there’s none of the animation that enlivens other episodes in the “Adam Ruins Everything” series. As with other episodes I’ve seen of this series, there are no really great revelations that most members of the public, particularly college students and their families, wouldn’t already be familiar with. Still this is a very entertaining show that moves briskly and which ends on an upbeat note.

Ultimately though the show can only go so far as to demonstrate that privatising institutions that offer student loans can open the door to predatory profiteering on financially naive people, and cannot draw parallels between the nation-wide student loan manipulation rort and similar bubbles such as the subprime mortgage bubble that killed off Lehmann Brothers in 2008 and ushered in the Great Recession. Once again, neoliberal capitalism rears its ugly head to prey on the vulnerable.