Higher education isnt necessarily broken - it just serves a different purpose than you might think. The signalling theory suggests that gaining a higher education isnt meant to equip you with a specific set of skills. Instead higher education simply works as a filter to distinguish between efficient and less efficient persons. An efficient person is able to get a college degree, which in terms signals to potential employers that this student is very productive. This is especially true, if you consider how little application most of the things you learned actually have in the real world.