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Is a college education worth the money?

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zridling:
What Oshyan said. I have a PhD, have taught college. But given the Return-On-Investment of today's degrees, I would only recommend college to those who have a specific plan for actual employment with their degree. The skilled trades -- carpentry, plumbing, roofing, electricians, general home renovation, Heating/AC, etc. will put money in your pocket far faster and with virtually no debt by comparison.

Mind you, my degrees are in Philosophy, but I did it for my own personal quest, knowing that landing even a philosophy teaching job would be tough. (That's why I taught undergraduate statistics courses for a decade!) But I would never recommend my path to anyone. If I were 20 years old, I'd buy and read the great books. Then I'd reread them. Then I'd set about learning a trade. If you're good at something, you'll stay busy enough to make as much money as you want. If you're waiting for someone to hire you for that "Communications" major, unless you're dropdead gorgeous, it's not going to happen (in this economy).

J-Mac:
I do not have a college degree though I did have several scholarships offered when I was in high school. I chose to enter the military at the time.

Since then I have attended college courses but stopped even trying to apply them toward a degree when specific curricula were forced on me; read: courses that offered me no possible benefit but were required for degree completion.

Since then I have taught college courses at two community colleges and two universities. Also when I was a director at a large utility in Florida I had more than 40 people directly reporting to me, and only two did not have degrees: me and my secretary.

Just sayin'... it sometimes works out just fine.  :)

Jim

40hz:
Once again a condescending member of the "Haves" counsels all the aspiring "Have Nots" to know their place, stick with what they can obtain most readily, and dream small.

As was pointed out in the movie Caddyshack when an employee, who was bucking for a scholarship, tried to indirectly plead his case before a wealthy club member:

Danny Noonan: I planned to go to law school after I graduated, but it looks like my folks won't have enough money to put me through college.

Judge Smails: Well, the world needs ditch diggers, too.

Lacey Underall: [to Danny] Nice try...
--- End quote ---


What I find interesting is that a professor, with an economic background, completely misses the bigger question as to why the price of a college education continues to steadily climb by an order of magnitude ahead of the inflation rate. Especially in those many institutions which are not expanding in size, have little or no tax liability, virtually zero debt, and substantial portfolios and underwriting endowments.

Maybe rather than telling the masses to just go out and focus on acquiring the skills needed to "get a job," it would be better to challenge some of the questionable business assumptions (and rampant institutional egotism and greed) that has boosted the price of a college education to the point of where it's no longer economically viable for so many people?

Odd state of affairs when you think back and notice how it was viable not so very long ago.

According to FinAid.org's website:

A good rule of thumb is that tuition rates will increase at about twice the general inflation rate. During any 17-year period from 1958 to 2001, the average annual tuition inflation rate was between 6% and 9%, ranging from 1.2 times general inflation to 2.1 times general inflation. On average, tuition tends to increase about 8% per year.
--- End quote ---

Maybe it's high time people started seriously asking why.  

And even more importantly, insisting that these institutions provide meaningful answers. 8)

Carol Haynes:
I think the bigger problems (at least in the UK) are:


* increasing massive graduate debt
* high drop out rate (with debt and nothing to show for it)
* degrees being pitched at a much lower level to try to meet the government 50% target take-up rather than the top 5% when I left school so now everyone needs an MA, MSc or PhD to be noticed as having qualified in something special.
By the way the last of these includes the decline in science and technology teaching in the UK as more of the 50% opt for 'easy' subjects.

I'm not being a snob - but pressure to take part in a largley irrelevant academic career simply moves the goal posts and doesn't achieve a lot.

A much better approach would be to reintroduce apprenticeships and technical education for the people who actually want to do something with a qualification.

In the UK these days the largest shift in graduate professions is to plumbing and electrical work because they pay so much more than most graduate jobs.

Stoic Joker:
A much better approach would be to reintroduce apprenticeships and technical education for the people who actually want to do something with a qualification.-Carol Haynes (June 06, 2010, 01:13 PM)
--- End quote ---

 :Thmbsup: +1 :Thmbsup:

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