Image by o5com via FlickrEducation is a good thing but I'd have to say for many, an expensive formal education isn't worth it.Here's what I mean. For many kids they are getting out of school with huge debt, in some cases, over $100,000. With that kind of debt, it's even more important that they become educated in a subject where they will make a good income of at least $50,000 to give them a fair chance to get out of debt in their lifetime.
However, so many colleges these days have a degree for any and all subjects, most of which will never generate much of an income, if any. I mean really? Do we really need degrees in every possible specific minority study program? If we got rid of all the BS degrees, college wouldn't be near as expensive and more students would walk away with a skill that will better prepare them for the real world. Now if money is no object and you want to get a degree in Left handed basket weaving, go for it. If you don't have the money, a "do nothing" degree is just a big waste of time and unnecessary debt that will end up hurting more kids in the long run. Now if you have a worthwhile degree, the reverse is true and paying big money for a good degree is a great investment. But that's the point. Parents sit down with your kids and go over the profit and loss statement of what their field of study will end up costing them in real terms. If you look at the numbers, perhaps children will be best served with a cheap two year community college degree. Think about it.
PULLED THE ADDITIONAL NOTE FROM ONE OF THE LINKS BELOW
The problems of student-loan delinquency and default are only expected to get worse. Salaries and employment rates for recent college graduates have dropped: The median starting salary for a member of the class of 2009 or 2010 is only $27,000, down from $30,000 a couple of years ago. A recent report from Moody’s Analytics predicted that over the next few years, “many students will be unable to service their loans as income growth falls short of borrowers’ expectations.”
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