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RE: Is a College Degree Worth It?
Excellent piece, I would definitely agree with you that "it depends". I came across a good paper not to long ago that said one you also look at annual salary from a career path that you choose and the expected debt from the degree. If your annual salary does not cover 1/3 of the debt, then probably people should careful consider that degree path. If you are on a STEM path, then its best to avoiding for-profit schools and go schools that offer scholarship. One can also talk about the quality of faculty is better at for-profit, so it all depends. One thing is for sure, this current debt-education system isn't working and it is prove to be more negative to the economy in the long-term as people spending power is dramatically reduce
I have not heard that figure before, and that sounds like wisdom. When buying a house they say that over 40% is stretching you thin, it stands to reason that investing in college would work the same.
Agreed, the debt based economy begins with the debt based college education. We need to rethink the burdens we are passing on.
I think that same article was either Zerohedge or CNBC, can't remember. Students have to be smart, they have to look at schools where they have a slight advantage with regard to cost, I am exploring MD/PhD option to finish off, cost and scholarship are my main concern. I am already rattle with debt from BSc and Basic Science, so you have to get self-center with regard to finances. I have friends that have a 400 thousands around the necks with only an MD that are still looking for post-grad and clinical position, so it ain't easy out here. I hope the administration can address this, I think they are fighting over healthcare but Education desperately needs some reform and quite frankly we need to cap tuition
Wow, I knew it was rough but 400k is news to me. There are lots of talks going on about education and health care right now, hopefully something positive comes out of it.
I hope they give it some attention, they need to cap-tuition and the class size, some of the schools have class size that over 400 students with 27k per semester plus administrative fees... tuition has risen from 18k to 27k an climbing per semester. We not even talking about IVY leagues that goes for 37 to 50K per semester, the current system is killing our greatest minds, its more a hussle, probably they can reward school that actually do research and lower fees an produce some actual results. It's more marketing than actual subtance