Is The Cost of College Worth Debt?

[blu]

depends on the degree. my advice to people would be work hard in high school and get a scholarship whether through one of the many programs in each state or from the university you attend itself. I left college with $0 debt because of scholarships and didn't have to work except summers allowing me to focus more on studying and research.

 

[Samson]

and the level of education does not necessarily reflect knowledge. Worse yet, it no longer necessarily even represents the quality of persistence.

"Quality of Persistence?".....seems to be a very subjective measure.

Most employers realise that a degree and a GPA doesn't tell the "whole story."

Do you ever consider that employers want their employees in debt?

I had a former Xerox sales manager tell me that he liked for his salesman to be in debt because it made them hustle. So it could be more than just a matter of whether or not the education is worth the money.

If we really wanted to educate people wouldn't it make sense to create a national recommended reading list. But do educators want everyone thinking that they just need to read/study the right books?

psik

No I never considered that employers want employees in debt.....but then, I've never been asked by an employer how much debt I'm in........maybe the next time I have an interview, I'll bring up the subject of my inability to pay off my debts!! No doubt that will impress them enough to give me a job!!!

 

[blu]

"Quality of Persistence?".....seems to be a very subjective measure.

Most employers realise that a degree and a GPA doesn't tell the "whole story."

Do you ever consider that employers want their employees in debt?

I had a former Xerox sales manager tell me that he liked for his salesman to be in debt because it made them hustle. So it could be more than just a matter of whether or not the education is worth the money.

If we really wanted to educate people wouldn't it make sense to create a national recommended reading list. But do educators want everyone thinking that they just need to read/study the right books?

psik

No I never considered that employers want employees in debt.....but then, I've never been asked by an employer how much debt I'm in........maybe the next time I have an interview, I'll bring up the subject of my inability to pay off my debts!! No doubt that will impress them enough to give me a job!!!

many places run credit checks as part of the hiring process. I had to do that at the place I worked over two summers b/c they did security work for financial places

 

[Samson]

Do you ever consider that employers want their employees in debt?

I had a former Xerox sales manager tell me that he liked for his salesman to be in debt because it made them hustle. So it could be more than just a matter of whether or not the education is worth the money.

If we really wanted to educate people wouldn't it make sense to create a national recommended reading list. But do educators want everyone thinking that they just need to read/study the right books?

psik

No I never considered that employers want employees in debt.....but then, I've never been asked by an employer how much debt I'm in........maybe the next time I have an interview, I'll bring up the subject of my inability to pay off my debts!! No doubt that will impress them enough to give me a job!!!

many places run credit checks as part of the hiring process. I had to do that at the place I worked over two summers b/c they did security work for financial places

Do you know why?


Because employees in crushing debt will steal.

I was being facetious with poor psik.

 

[uscitizen]

I have 3 Family members that have graduated over the past 2 years with nearly $100K student loan debt each. Not one of them has a full time job paying $9 per hour or more.

Yes and that trend will worsen or at best hold steady for the next 10-15 years at least.

 

[KissMy]

The New York Times has an interesting article on this subject: Placing the Blame as Students Are Buried in Debt

 

[Douger]

If you want something...PAY for it.

You already do FOOL.
It's called taxation without representation.

 

[Samson]

The New York Times has an interesting article on this subject: Placing the Blame as Students Are Buried in Debt

Yes, and, predictably, the NYT downplays personal responsibility in favor of "blameing" colleges:

They and their families made borrowing decisions based more on emotion than reason, much as subprime borrowers assumed the value of their houses would always go up.

Meanwhile, universities like N.Y.U. enrolled students without asking many questions about whether they could afford a $50,000 annual tuition bill. Then the colleges introduced the students to lenders who underwrote big loans without any idea of what the students might earn someday — just like the mortgage lenders who didn’t ask borrowers to verify their incomes.

Ms. Munna does not want to walk away from her loans in the same way many mortgage holders are. It would be difficult in any event because federal bankruptcy law makes it nearly impossible to discharge student loan debts. But unless she manages to improve her income quickly, she doesn’t have a lot of good options for digging out.

It is utterly depressing that there are so many people like her facing decades of payments, limited capacity to buy a home and a debt burden that can repel potential life partners. For starters, it’s a shared failure of parenting and loan underwriting.

But perhaps the biggest share lies with colleges and universities because they have the most knowledge of the financial aid process.

Later in the article NYT blames Citi Bank for lending money when the credit was already bad.

Still later, buried on the second page, we finally learn what the REAL PROBLEM IS: Why Ms Munna cannot repay the loan?

Ms Munna has a degree in what amounts to Underwater Basketweaving:

She recently received a raise and now makes $22 an hour working for a photographer. It’s the highest salary she’s earned since graduating with an interdisciplinary degree in religious and women’s studies.

She fucked off studying worthless bullshit for YEARS on the public dime, now cannot understand why she owes so much money? Hey, I have an idea: Join the Army, and payoff your fucking loan, you lazy bitch.

 

[Wry Catcher]

According to a study released by the College Board, the United States is lagging behind other nations in college completion rates, an area in which the U.S. was once dominant. Now the U.S. has fallen to 12th among 36 developed nations for the number of 25 to 34-year-olds with college degrees.
“In the global economy, the disadvantage is that we won’t be able to compete as well as other nations,” said John Lee, assistant researcher with College Board. “It goes back to a sort of American competitiveness on a local and a global scale.”
By 2018, 63 percent of the jobs in the U.S. will require some sort of post-secondary degree, but if only about 40 percent of people can actually access those jobs, we’ll have to either import that labor or eliminate those jobs, Lee said

To read the entire article, from the Daily Nebraskan, see:

Daily Nebraskan - US drops to 12th among college degrees earned

 

[Annie]

According to a study released by the College Board, the United States is lagging behind other nations in college completion rates, an area in which the U.S. was once dominant. Now the U.S. has fallen to 12th among 36 developed nations for the number of 25 to 34-year-olds with college degrees.
“In the global economy, the disadvantage is that we won’t be able to compete as well as other nations,” said John Lee, assistant researcher with College Board. “It goes back to a sort of American competitiveness on a local and a global scale.”
By 2018, 63 percent of the jobs in the U.S. will require some sort of post-secondary degree, but if only about 40 percent of people can actually access those jobs, we’ll have to either import that labor or eliminate those jobs, Lee said

To read the entire article, from the Daily Nebraskan, see:

Daily Nebraskan - US drops to 12th among college degrees earned

Surprising that the College Board would use that sort of spin. Bottom line is that nearly everyone from an electrician to the auto repair guy to the person that takes blood for your CBC, has some sort of post-secondary training. It does not need to be university.

 

[Samson]

According to a study released by the College Board, the United States is lagging behind other nations in college completion rates, an area in which the U.S. was once dominant. Now the U.S. has fallen to 12th among 36 developed nations for the number of 25 to 34-year-olds with college degrees.
“In the global economy, the disadvantage is that we won’t be able to compete as well as other nations,” said John Lee, assistant researcher with College Board. “It goes back to a sort of American competitiveness on a local and a global scale.”
By 2018, 63 percent of the jobs in the U.S. will require some sort of post-secondary degree, but if only about 40 percent of people can actually access those jobs, we’ll have to either import that labor or eliminate those jobs, Lee said

To read the entire article, from the Daily Nebraskan, see:

Daily Nebraskan - US drops to 12th among college degrees earned

I believe a representative from the College Board could be disingenuos in his conclusion:

A nation that is #1 in the number of 25-34 yos with college degrees, mightn't be as competitive in the global economy if they all hold an "interdisciplinary degree in religious and women’s studies."

 

[KissMy]

I have 3 Family members that have graduated over the past 2 years with nearly $100K student loan debt each. Not one of them has a full time job paying $9 per hour or more.

let me guess, one has a degree in fashion. the other has a degree in cosmetics, and the other...possibly a degree in women's studies? lol

The 23 year old step niece has a degree in Marketing & has applied at about 100 places landed a job as a Macy's sales woman. Just this week got promoted to full time making $8.80

The 25 year old cousin has a Solid Works Computer Aided Drafting & Design degree. Has had 2 jobs at business that went under where he achieved $8.95hr but is now temp working on a farm for $9.00 hr

The 22 year old niece has a Business degree & made $9.00hr working in a nursing home. Now pregnant & unemployed.

I have a 18 year old niece who just graduated H.S. with honors. She is starting college to be a Veterinarian for large animals. 5 states currently have a shortage of vets & are willing to pay for her education. Hopefully she will be a success.

 

[topspin]

An average 4 year degree will net the student 2.5 million more over a career vs no college. We hire petroleum engineers at $80,000 right out of school with a sighning bonus. Much depends on the college and the student.

 

[rdean]

I have 3 Family members that have graduated over the past 2 years with nearly $100K student loan debt each. Not one of them has a full time job paying $9 per hour or more.

let me guess, one has a degree in fashion. the other has a degree in cosmetics, and the other...possibly a degree in women's studies? lol

No, "Bible" study.

 

[rdean]

I have 3 Family members that have graduated over the past 2 years with nearly $100K student loan debt each. Not one of them has a full time job paying $9 per hour or more.

let me guess, one has a degree in fashion. the other has a degree in cosmetics, and the other...possibly a degree in women's studies? lol

The 23 year old step niece has a degree in Marketing & has applied at about 100 places landed a job as a Macy's sales woman. Just this week got promoted to full time making $8.80

The 25 year old cousin has a Computer Aided Drafting & Design degree. Has had 2 jobs at business that went under where he achieved $8.95hr but is now temp working on a farm for $9.00 hr

The 22 year old niece has a Business degree & made $9.00hr working in a nursing home. Now pregnant & unemployed.

I have a 18 year old niece who just graduated H.S. with honors. She is starting college to be a Veterinarian for large animals. 5 states currently have a shortage of vets & are willing to pay for her education. Hopefully she will be a success.

100k learning "Marketing"? Sounds like a swindle.

Business degree? Funny, when I was going to Roosevelt University here in Chicago on the GI bill, two of my physics classes had 4 and 6 six students.

Part of the program were classes in both Accounting and Management. The Accounting class was held in three rooms where the "accordion walls" had to be opened to make one gigantic room. The Management class needed to be moved to a "forum" and people still sat on the "stairs".

44 students were in Calculus 1, 23 in Calculus 2 and 10 in Calculus 3 with 8 actually passing the course.

I was wondering where all those "business majors" were going to get a job? Now I know.

Computer Aided Drafting & Design? And can't get a job? Hmmm. I didn't even know they still taught that? I thought everything today was Inventor and Solidworks.

Too bad they didn't go into the military. At that young age, they still could.

As long as corporations keep moving jobs overseas, paid for by "tax breaks", they will never get jobs.

 

[topspin]

Accounting is the top degree in the business field, there are over 400,000 and growing. It's one of the top paying degrees, behind engineering which is harder.

 

[rightwinger]

It depends on the student and it depends on the major

Some majors are not worth the amount of money you have to pay to achieve a degree. To pay $100,000 for a degree that will never pay more than $40K is not worth it.

Some students are just not worth the investment

 

[Samson]

Accounting is the top degree in the business field, there are over 400,000 and growing. It's one of the top paying degrees, behind engineering which is harder.

My undergrad is Chemical Engineering, but I've taken the undergrad and grad Accounting courses for an MBA.

I hate accounting.

 

[Samson]

Too bad they didn't go into the military. At that young age, they still could.

Shit, rdean, that's a damn intelligent statement.......see how much a few days of rest, and taking your meds helps!!

 

[KissMy]

Accounting is the top degree in the business field, there are over 400,000 and growing. It's one of the top paying degrees, behind engineering which is harder.

My undergrad is Chemical Engineering, but I've taken the undergrad and grad Accounting courses for an MBA.

I hate accounting.

It is going to suck for graduates when we switch from (GAAP) Generally Accepted Accounting Principles - to - (IFRF) International Financial Reporting Standards.