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Old 12-19-2013, 06:34 AM
 
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College degrees are the new high school diploma. And some even more useless than that as they have become so readily availably on the internet and through for profit intsitutions, etc. People think if they go 50k into debt to acquire a degree that they will "get ahead" in the workforce, in life, etc. I did enjoy my time in college, and I am glad I went but my reasons for enjoying my time at a top tier university have nothing to do with my job prospects. In order to "get ahead" in life you need to work for it, no corporation is going to hand you anything sitting in a cubicle. Especially with the baby boomers in hiring positions, trust me they will not retire quietly. I have met more millionaires who were college dropouts than any other people. I think people are naive and higher institutions are milking the new degree bubble that Gen Y has been lead to believe that they need in order to be successful.

Last edited by Red3311; 12-19-2013 at 07:13 AM..
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Old 12-19-2013, 07:04 AM
 
Location: Raleigh NC
1,346 posts, read 3,065,481 times
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Agreed.
Anyone who goes into debt for college these days is simply foolish.

One of the reasons people are fighting for an increase to the minimum wage is that a LOT of these jobs are held by college educated people who have student loan debt. Fact of life in 2013. It kills me when people say 'if you don't like it then just get another job' like it's so easy. Too many people, not enough of these 'good jobs'.

Almost everyone I know who is successful financially has no college degree.

I'm not saying it's useless, I'm saying don't go into debt for it, and don't expect this fabulous job just because you have it.
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Old 12-19-2013, 09:25 AM
 
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There are a lot variables at play when it comes to success. A degree won't guarantee anything, but not having one can inhibit, which is unfortunate.
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Old 12-19-2013, 09:30 AM
 
320 posts, read 536,393 times
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I can't tell you what to believe and what not to believe. You seem to feel very strongly that a college degree is worthless as far as it relates to financial success. However, I've seen nothing that suggests an individual would fare better financially by not attending college. I'm not debating that there aren't very successful people in this country without college degrees. But overall, a person who has graduated from college stands a far better chance in the job market as well as financially stable than someone with only a highschool education.

Here are some statistics compiled by the Bureau of Labor:

Men age 25 or older:
With Highschool Diplomas/no college: Median earnings= $652/wk.
With some college or Associate's Degree: Median earnings= $749/wk.
With Bachelor's Degree or above: Median earnings= $1165/wk.

Women age 25 or older:
With Highschool Diplomas/no college: Median earnings= $561/wk.
With some college or Associate's Degree: Median earnings= $659/wk.
With Bachelor's Degree or above: Median earnings= $1001/wk.

Overall Unemployment Rate in 2012:
Highschool Diplomas/no college: 8.3%
Associate's Degree: 6.2%
Bachelor's Degree or above: 4.0%

Workers Living in Poverty (working poor) 2012:
Highschool Diplomas/no college: 9.2%
Associate's Degree: 4.6%
Bachelor's Degree or above: 2.0%

Every single measureable that I've found suggests that earning even an Associate's degree significantly raises the possibility of achieving financial success. Attaining a Bachelor's degree or higher raises that possibility even that much further. The median cost of a 4-year degree at a public in-state university is $64,000. Over the course of someone's lifetime, an individual with a bachelor's degree on average will make $2.1MM vs. $1.2MM for highschool graduates with no college. A $64,000 investment in order to earn an average of $900,000 more than non-college grad counterparts along with increased job security and mobility seems like a pretty good investment to me.
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Old 12-19-2013, 09:44 AM
 
641 posts, read 1,015,604 times
Reputation: 990
Quote:
Originally Posted by EHCT View Post
I can't tell you what to believe and what not to believe. You seem to feel very strongly that a college degree is worthless as far as it relates to financial success. However, I've seen nothing that suggests an individual would fare better financially by not attending college. I'm not debating that there aren't very successful people in this country without college degrees. But overall, a person who has graduated from college stands a far better chance in the job market as well as financially stable than someone with only a highschool education.

Here are some statistics compiled by the Bureau of Labor:

Men age 25 or older:
With Highschool Diplomas/no college: Median earnings= $652/wk.
With some college or Associate's Degree: Median earnings= $749/wk.
With Bachelor's Degree or above: Median earnings= $1165/wk.

Women age 25 or older:
With Highschool Diplomas/no college: Median earnings= $561/wk.
With some college or Associate's Degree: Median earnings= $659/wk.
With Bachelor's Degree or above: Median earnings= $1001/wk.

Overall Unemployment Rate in 2012:
Highschool Diplomas/no college: 8.3%
Associate's Degree: 6.2%
Bachelor's Degree or above: 4.0%

Workers Living in Poverty (working poor) 2012:
Highschool Diplomas/no college: 9.2%
Associate's Degree: 4.6%
Bachelor's Degree or above: 2.0%

Every single measureable that I've found suggests that earning even an Associate's degree significantly raises the possibility of achieving financial success. Attaining a Bachelor's degree or higher raises that possibility even that much further. The median cost of a 4-year degree at a public in-state university is $64,000. Over the course of someone's lifetime, an individual with a bachelor's degree on average will make $2.1MM vs. $1.2MM for highschool graduates with no college. A $64,000 investment in order to earn an average of $900,000 more than non-college grad counterparts along with increased job security and mobility seems like a pretty good investment to me.

Nice stats, but what you fail to throw out there is the debt one goes into from college. So automatically you are already behind. In addition, the middle class is shrinking so you cant tell me those with college degreees are part of the population that is in the top percentage of earners...
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Old 12-19-2013, 10:26 AM
 
320 posts, read 536,393 times
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Quote:
Originally Posted by Red3311 View Post
Nice stats, but what you fail to throw out there is the debt one goes into from college. So automatically you are already behind. In addition, the middle class is shrinking so you cant tell me those with college degreees are part of the population that is in the top percentage of earners...
In the last paragraph I stated that the median expenditure for a 4 year degree in a public, in-state university is $64,000. So in a generic sense, investing $64,000 in order to make an extra $900,000 (even more for Master's and PhD's) means a net gain of $836,000.

You're right about one thing. I can't tell you what percentage of those with college degrees represent the top earners in this country. But I can tell you that your chances of becoming one of those top earners increase significantly after you've earned a college degree. I challenge you to show me any statistical evidence that states otherwise.
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Old 12-19-2013, 10:29 AM
 
Location: Under the Redwoods
3,751 posts, read 7,635,424 times
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College degree or not...I am shocked to see that men, in this day and age, still make more than women.

I know many with degrees that don't even work in the field they studied in. I've heard from several different sources that the only degree that really gets you anything is a masters.
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Old 12-19-2013, 10:29 AM
miu
 
Location: MA/NH
17,762 posts, read 40,021,896 times
Reputation: 18060
Quote:
Originally Posted by Red3311 View Post
College degrees are the new high school diploma. And some even more useless than that as they have become so readily availably on the internet and through for profit intsitutions, etc.
Do you think high school diplomas useless also??

Yes. The educational standards are higher now, and a high school diploma is not enough. And it also says a lot about the quality of our public school system with their "no child left behind" policy. So not all public high diplomas are equal. Some high schools are clearly better than others. And of course, a straight A student is a more desirable employee candidate than a slacker that slid by with C's while taking easy course. Great grades tell an employee that the candidate was able to learn new material, problem solve and complete the required assignments. Poor grades or a G.E.D. suggest that the candidate has possible problems with learning, time management, discipline and authority figures.

I agree that colleges are now too expensive, but that's in part because of the nature of government student loans. Colleges just priced themselves accordingly to maximize on getting that money. However, the college environment can be a good way for young adults to experience their first time away from their parents' home and to social network. At the top schools like Harvard and MIT, what better way to become friends and work with the movers and shakers of tomorrow?

Otherwise, some young people would be better off going to a trade school instead of a academic university. There's good money in the trades. Everyone's skill set is different.
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Old 12-19-2013, 10:35 AM
 
Location: Upstate NY 🇺🇸
36,754 posts, read 14,719,374 times
Reputation: 35583
Quote:
Originally Posted by Red3311 View Post
College degrees are the new high school diploma. And some even more useless than that as they have become so readily availably on the internet and through for profit intsitutions, etc. People think if they go 50k into debt to acquire a degree that they will "get ahead" in the workforce, in life, etc. I did enjoy my time in college, and I am glad I went but my reasons for enjoying my time at a top tier university have nothing to do with my job prospects. In order to "get ahead" in life you need to work for it, no corporation is going to hand you anything sitting in a cubicle. Especially with the baby boomers in hiring positions, trust me they will not retire quietly. I have met more millionaires who were college dropouts than any other people. I think people are naive and higher institutions are milking the new degree bubble that Gen Y has been lead to believe that they need in order to be successful.
I agree. When I went to college, there were no "remedial" courses, either. In fact, among other things, one had to demonstrate proficiency in those areas as a prerequisite for acceptance. There also existed the term "college material."

One can never be stripped of his or her education, but college is not for everyone. Herding students who are not "college material" into college, when trade schools may be an alternative, has diluted the value of today's degree.
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Old 12-19-2013, 10:58 AM
 
641 posts, read 1,015,604 times
Reputation: 990
More and more people have it and they are getting more and more easier to get...usually when that happens to something it becomes worthless.
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