[Armyvet1]

A degree shouldn't cost 50,000 dollars. The cost has gotten so high that it hurting economies by making it harder for people to learn employable skills to get good jobs.

Good jobs lead to good economies cause in order to change the outlook of Connecticut and other states, people need to go out and be able to spend some cash at the mom and Pop restaurant, the local bicycle shop, the small business clothing store.

The backbone of America is Main Street and we've slowly destroyed it.

[bobtn]

Originally Posted by Armyvet1

A degree shouldn't cost 50,000 dollars. .

But no one quibbles about spending 30-50k on a car! I guess a car is worth more than their own skill set development.

[Armyvet1]

Anyone that spends that much on a car isn't smart enough to succeed at college either. As soon as you drive it off the lot it depreciated in value. Brand new Bimner 50,000, pre owned Bimmer 36 months old, 28,000.

Also justifying the high price of college by comparing it to a car is apples to oranges. The cost of a car depriciates over time, the cost of tuition keeps appreciating faster then the rate of inflation. Student loan debt exceeds credit card debt and it's the next bubble that's going to burst.

[bobtn]

Originally Posted by Armyvet1

Anyone that spends that much on a car isn't smart enough to succeed at college either. As soon as you drive it off the lot it depreciated in value. Brand new Bimner 50,000, pre owned Bimmer 36 months old, 28,000.

Also justifying the high price of college by comparing it to a car is apples to oranges. The cost of a car depriciates over time, the cost of tuition keeps appreciating faster then the rate of inflation. Student loan debt exceeds credit card debt and it's the next bubble that's going to burst.

Per the BLS, the average college grad earns in excess of 15 times that 50k more, over his/her life, vs the average high school grad. I'll take a 1400% ROI.

[Armyvet1]

Except for the college grads who work at Starbucks for 10 bucks an hour. Since they seem to be more common then Donald Trump or Bill Gates, that 1400% ROI seems more of an unrealistic number.

[bobtn]

Originally Posted by Armyvet1

Except for the college grads who work at Starbucks for 10 bucks an hour. Since they seem to be more common then Donald Trump or Bill Gates, that 1400% ROI seems more of an unrealistic number.

We cannot help the outliers. Some will earn much more than 15x the cost, some less. 1400% ROI, though, is the median result, simply dividing lifetime earning gap/cost, and 50k is not the typical debtload. Per the BLS, it is 26k. I have 4 younger MBAs in my family who combined borrowed very little above 50k, as they earned scholarships, and worked during college , too.

[Armyvet1]

My point is the excessive costs of tuition that magically keep rising is going to hurt Americans when it all comes crashing down. We can't afford another financial crisis, and just like the housing bubble as long as the United States Government continues to feed the machine, it's a disaster waiting to happen.

[bobtn]

Originally Posted by Armyvet1

My point is the excessive costs of tuition that magically keep rising is going to hurt Americans when it all comes crashing down. We can't afford another financial crisis, and just like the housing bubble as long as the United States Government continues to feed the machine, it's a disaster waiting to happen.

It is 180 degrees different. This complex world requires ever increasing levels of education. We could though live in exactly the size homes of the 1950s if we wished. The latter means their is no credible market reason for ever increasing home prices; the former means jobs requiring degrees provide motive for the market to respond.

If the market ever stops seeking degrees in ever increasing numbers, you'd be correct, but it shows no sign of doing so.

PS: I do think the government should however cap loan amounts available in a variable manner proportinate to the projected jobs to be added in each field. Let Junior or Princess put move of their own money in when they choose less "in demand" majors.

[Armyvet1]

Ok and I'm not trying to argue the importance of education, it one of the greatest resources we have. Learning a valuable skill set leads to a decent paying job, there's no doubt about that.


My argument is a kid should not have to enter college in fear that when he/she graduates can they afford to pay it back?

Education is such a broad term and in reality it relates to any form of learning, academic, apprenticeship, internship, hands on, text book, on the job training. When you can perform a task you weren't able to before, then you have learned something, you recieved a form of education.

The markets also drove artificially inflated home prices until it came crashing down. The markets drove credit until we all found out how much greed and corruption were behind all of those easy to get loans. The markets are driven by blind faith with the assumption everything will work out in the end.

[Armyvet1]

I have numerous pieces of paper hanging on my wall too but at the end of the day the reason for achieving it was to have the skills to pay the bills otherwise I may as well toss em in the fireplace cause that would be all it's worth.

The benefit has to outweigh the cost and if it doesn't it's a bad investment.