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A gentle reminder that a degree in any field, from any school, has no guarantee of any level of return. It's not like you can project NPV based on your investment given the variables. You don't know what sort of job you'll be working, what sorts of cashflows you'll have, or what type of company or industry you'll be in. I am very good friends with a computer science major from a Big-10 that spent the first 14 years of his career teaching at a public high school making less than $60k/yr. upon his eventual departure.
Also, a gentle reminder that the individual's personality traits will be a much larger factor in any ROI calculations. I'd bet on a personable, intelligent, and charismatic art history major over a anti-social engineering major with crippling social anxiety and depression any day.
And a final gentle reminder that people aren't businesses. Every decision we make isn't entirely dictated by the objective to maximize shareholder value. That's a CFO's job. A home is sometimes just a home for a family, not some hotshot real estate deal. A car is sometimes for joy riding, not some tangible asset to be depreciated to salvage value and sold off after 5 years. Having children isn't a transaction you enter into for tax avoidance reasons.
A gentle reminder that a degree in any field, from any school, has no guarantee of any level of return. It's not like you can project NPV based on your investment given the variables. You don't know what sort of job you'll be working, what sorts of cashflows you'll have, or what type of company or industry you'll be in. I am very good friends with a computer science major from a Big-10 that spent the first 14 years of his career teaching at a public high school making less than $60k/yr. upon his eventual departure.
Also, a gentle reminder that the individual's personality traits will be a much larger factor in any ROI calculations. I'd bet on a personable, intelligent, and charismatic art history major over a anti-social engineering major with crippling social anxiety and depression any day.
And a final gentle reminder that people aren't businesses. Every decision we make isn't entirely dictated by the objective to maximize shareholder value. That's a CFO's job. A home is sometimes just a home for a family, not some hotshot real estate deal. A car is sometimes for joy riding, not some tangible asset to be depreciated to salvage value and sold off after 5 years. Having children isn't a transaction you enter into for tax avoidance reasons.
yep, good point. I don't understand why everybody thinks that the school OWES you anything. It's just on you, they only give you knowledge, no guarantee..
All seniors in high school should learn about ROI. Return on Investment. People must learn that money borrowed must be paid back! Borrow wisely. They should be forced to apply ROI to their future college plans. How irrational is it to take out $200,000 student loans for a "profession" that really doesn't exist in the real world. Just how many high paying "gender studies" jobs are there? Just how many high paying jobs are there for 19th Century French Literature PHDs? Take the HS seniors on a road trip to a couple of Star Bucks .....ask all the highly educated coffee servers about their degrees.
Try borrowing $400,000 to buy a $200,000 house. Try borrowing $100,000 to buy a $25,000 car. This is what is happening within the colleges and student loan programs.
Bubble bursting on the student loan scam program? Common sense tells us that allowing people to over borrow on any product (students are purchasing a product from colleges) will eventually result in a crisis. For give the loan......only if we than sue the colleges that sold the overpriced product to recover. It should be made public the student loan defaults by college and degrees. Students should know whether a person can make loan payments with the PHD in Gender Studies from Harvard.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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one of my previous colleges closed 2 yrs ago. They had absorbed another college which had closed one yr prior. The schools left all students in limbo, and some were 3 months from graduation, having transferred in from a failed college.
Credibility is very poor.
When I did a Master's program 10 yrs ago (as an early retiree) it was obvious that this school was losing it's touch for academic excellence (as a teacher's and business school).
I would expect every student has done a "ROI" type evaluation before choosing a college or a career. There is a world of difference in each!
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