Most people who go into education don’t expect to make a lot of money. If they had that expectation, they would be demented, since teaching is not known as a profession that is high-paying.
But yes, there is a way to get rich in education, and it is not by becoming a teacher.
Become a bill collector of college debt! That’s the ticket! John Hechinger discovered that one collection agent made $454,000 last year by dunning students to pay back their loans. His boss made over $1 million. Several other debt collectors in the same agency made more than $300,000 annually. How cool is that? (http://www.bloomberg.com/news/2012-05-15/taxpayers-fund-454-000-pay-for-collector-chasing-student-loans.html)
It’s a well-known fact, documented again recently in the New York Times, that student loans now exceed one trillion dollars. Pursuing hapless students and collecting what they owe turns out to be a way to fast riches.
Why struggle to get your students to learn when you can pursue them to pay back their debts?
In a sane world with sane and smart education policies, the federal government would assume a larger portion of the cost of higher education, so that those who want to learn more were not crushed by student loans.
But our government decided some years back that education was a consumer good, not a basic human right, so the consumer should shoulder most of the burden.
This is short-sighted. I now encounter many college graduates waiting on tables, clerking in stores, delivering rental cars, and doing all sorts of make-work, just trying to pay back their student loans.
Why should anyone get rich on the financial misery created by bad government policy?