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Gladly. Grads of both schools will bet about a million more over a lifetime per pay scale and WSJ. The default rates for loans are around 2% and the median debt is 15k.
Statistics get fluffed a lot depending on the sampling technique used. Did they mine the loan industry for numbers or did they do phone interviews like they did for unemployment figures?
Just because a ROI is less than it was in the past doesn't make it a scam. We all know you have not made out with your degree but unfortunelty toy for you facts and data don't agree with you. Why don't you tell is how those with a HS degree have done over the last decade? The average income and unemployment rate.
This recession may very well affect the lifetime earnings of the younger newly employed professionals. In a recent Yale study, that followed 1979-1989 college graduates on a career path, it was noted that for each percent increase in unemployment, the initial salary of new entrants into the work force with college graduate degrees fell approximately 7%. Some graduates had nearly 25% lower income in their 1st year of work, than those who graduated in better economic times. The lower initial income is only one aspect. The study found that even as much as 17 years later, their lower incomes persisted, and some were making as much as 10% less than their counterparts. Over the course of their career, the income difference could be nearly $100,000 between those with college graduate degrees getting a job in recession times and grads getting a job in boom times. The study found the lower paid grads in mid career were less likely to be in a prestigious career, more likely to stay in their job, and therefore see less likely to enjoy significant income increases. This raises the possibility that people with college graduate degrees who start in a low level, low paying job, may be viewed as having lower potential by employers when they seek other jobs. This situation creates career and income hurdles for these lower paid grads throughout their careers.
As you can see, specifically with the way college is now where is is so off base of what employers want, it might not necessarily be a scam but the ROI is not as strong as it once was. Particularly if the economy continues this way for some years causing graduates to jump into jobs they had during college, summer, before they left for college or even unpaid internships.
Quote:
Originally Posted by Gatornation
Economies change. The ability to change and adapt determines who is successful and who isn't.
That doesn't mean that the degree is or isn't relevant in the economy. Not everyone has the resources to adapt. Look at at everyone who say because you got a degree and can't get a job, you chose the wrong major or go into business for yourself. You cannot control the demand for the degree nor can you go into business for yourself if you do not have the money to do this.
As you can see, specifically with the way college is now where is is so off base of what employers want, it might not necessarily be a scam but the ROI is not as strong as it once was. Particularly if the economy continues this way for some years causing graduates to jump into jobs they had during college, summer, before they left for college or even unpaid internships.
That doesn't mean that the degree is or isn't relevant in the economy. Not everyone has the resources to adapt. Look at at everyone who say because you got a degree and can't get a job, you chose the wrong major or go into business for yourself. You cannot control the demand for the degree nor can you go into business for yourself if you do not have the money to do this.
You aren't choosing between what the ROI was 20 years ago vs what it is today. The choice is the current day ROI vs not getting anymore education. If I can invest and make a 10% profit today I'm still going to do it despite the fact that 20 years ago I could have invested and made 20%.
Everyone educatuon lecel struggles during a recession. Have you seen the salary and employment figures for HS graduates? That is the relevant compare.
Statistics get fluffed a lot depending on the sampling technique used. Did they mine the loan industry for numbers or did they do phone interviews like they did for unemployment figures?
Default rates and debt at graduation are easy to verify as that is government data. When a school has a default rate of 3% and average debt of around 15k it tells you the graduates are doing just fine.
@Gatornation;
Although it's easy to pull the data, do they actually do it on the sites claiming these numbers? If you can get links, that'd be great. I graduated from a tier 2 school with a bachelor's degree and $24,000+ in debt and I'm having a terrible time finding work, let alone a job that pays more than minimum wage.
Also, the number of people with GEDs and no experience getting retail jobs that pay higher than what they offer me seems to be increasing. It's as if having experience and a college degree sets you below these people for the jobs "normal college graduates wouldn't apply for."
@Gatornation;
Although it's easy to pull the data, do they actually do it on the sites claiming these numbers? If you can get links, that'd be great. I graduated from a tier 2 school with a bachelor's degree and $24,000+ in debt and I'm having a terrible time finding work, let alone a job that pays more than minimum wage.
Also, the number of people with GEDs and no experience getting retail jobs that pay higher than what they offer me seems to be increasing. It's as if having experience and a college degree sets you below these people for the jobs "normal college graduates wouldn't apply for."
You realize your claim about HS grads on a large scale is ridiculous. There is no employment or salary data to back that up. Seems like you are letting your personal situation skew reality.
Keep in mind that you're looking for a job in an economy which, although officially not in recession, is shaky, unpredictable and not adding jobs at the rate needed to return to full employment. Also remember that the official unemployment rate is skewed lower than actuality due to the statistical methods used to estimate the rate.
So, having a difficult time finding a job shouldn't be surprising, especially in your field of study.
You realize your claim about HS grads on a large scale is ridiculous. There is no employment or salary data to back that up. Seems like you are letting your personal situation skew reality.
Whoops, I forgot to append my post.
The claim was meant in my immediate friend circle and not about the whole world.
Keep in mind that you're looking for a job in an economy which, although officially not in recession, is shaky, unpredictable and not adding jobs at the rate needed to return to full employment. Also remember that the official unemployment rate is skewed lower than actuality due to the statistical methods used to estimate the rate.
So, having a difficult time finding a job shouldn't be surprising, especially in your field of study.
For this discussion the difference in unemployment rate between education levels is what is relevant. College grad is at 3% and HS was at 10% in think last I recall. If you think that is really 6% and 13% it really is the same in terms of the benefit if one over the other.
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