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Is it really worth going to college and adding all this debt?
Triangle Business Journal ^ | 11/16/2012 | Jason deBruyn

Posted on 11/16/2012 2:13:00 PM PST by SeekAndFind

College tuition seems to be going in only one direction: Up. And as grants and financial aid aren’t going as far as they used to, students and parents are having to borrow more to go to college.

I wrote about spending per degree for today’s paper, and quoted Kevin Carey, the director of the education-policy program at the New America Foundation, a nonprofit in Washington D.C. that analyzes public policy.

He argues that Americans go to college because the “have to,” and after graduation “start moving forward through life attached to a financial ball and chain.”

In his opinion, the simple act of borrowing tens of thousands of dollars for college contributes as much to increasing costs as anything.

New regulations have forced colleges to be more up front about the total cost of attendance, but there are still no requirements to factor in how much students and parents will end up paying after 10 years of interest is added on to that total bill.

The National Association of Student Financial Aid Administrators put together a brochure this month that lays out exactly what the debtor will end up paying. It’s an important reminder of how much a college degree actually costs, and a good tool to have when deciding where to apply to college.

-------------------

Jason deBruyn covers Health Care, Higher Education, Nonprofits and Sports Business.


TOPICS: Business/Economy; Education; Society
KEYWORDS: college; debt; tuition
CLICK here for the brochure.
1 posted on 11/16/2012 2:13:08 PM PST by SeekAndFind
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To: SeekAndFind

No.


2 posted on 11/16/2012 2:27:48 PM PST by Tublecane
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To: SeekAndFind
No. Most colleges add tons of superfluous 'general education' courses to their curricula by design. They indocrinate end hypersexualize the students.

The end result is a class of underqualified, indebted, entitled drones who glorify "Occupy Wall Street" and Perez Hilton, but can't name the current House Speaker or three Amendments to the Constitution.

3 posted on 11/16/2012 2:28:23 PM PST by rfp1234 (Arguing with a liberal is like playing chess with a pigeon.)
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To: rfp1234

They indocrinate and hypersexualize the students.


4 posted on 11/16/2012 2:29:11 PM PST by rfp1234 (Arguing with a liberal is like playing chess with a pigeon.)
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To: SeekAndFind

Maybe there is an answer:

http://www.zerohedge.com/news/2012-11-15/guest-post-nearly-free-university


5 posted on 11/16/2012 2:30:12 PM PST by Founding Father (The Pedophile moHAMmudd (PBUH---Pigblood be upon him))
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To: SeekAndFind

Maybe there is an answer:

http://www.zerohedge.com/news/2012-11-15/guest-post-nearly-free-university


6 posted on 11/16/2012 2:30:29 PM PST by Founding Father (The Pedophile moHAMmudd (PBUH---Pigblood be upon him))
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To: rfp1234

“There is a time and a place for everything, and it’s called ‘College’.”


7 posted on 11/16/2012 2:31:34 PM PST by dfwgator
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To: dfwgator

Are you studying electrical engineering at a public university after taking your “general education” classes at a 2-yr community college? If so, than sure, college is worth it.

Are you studying “raza studies” at a private, 4-year school? If so, then nope!

With the inevitable Obama economic-reset that’s coming, our kids are going to need to consider whether they should be going to college, or learning a skilled trade instead.


8 posted on 11/16/2012 2:34:57 PM PST by altsehastiin
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To: altsehastiin

One-third of the electricians on a major construction site in Western NC don’t speak English. I was there 4 days this week.

The Archer-Daniels on-site safety coordinator couldn’t say yellow. “If you use the jello tape be sure to blah blah blah........


9 posted on 11/16/2012 2:43:15 PM PST by eyedigress ((zOld storm chaser from the west)/?)
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To: SeekAndFind

Certain degrees (engineering, math, physical sciences, and a few others) are worth the debt, particularly with in-state tuition or with the most prestigious elite institutions (MIT, CalTech, and Stanford come to mind). Other degrees (gender studies, Hispanic studies, African American studies, sociology, English, political science, environmental science, art history, film studies, history, journalism, and education) are for most participants merely an excuse to get drunk and chase girls, or boys, or both. Private college tuition is in my opinion almost never a good investment for any school below the top tier.

For my own kids, I will pay in state tuition for any marketable major so long as their grades match what I consider to be their best effort. I will also pay private school tuition to a top-tier college, but only if they can get in, agree to major in a marketable field, and keep their grades up. College can be well worth the investment, but it’s like choose any other investment - you have to think it through.


10 posted on 11/16/2012 2:44:52 PM PST by Pollster1 (Freedom is never more than one generation away from extinction. - Ronald Reagan)
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Ooops! That was Archer-Western


11 posted on 11/16/2012 2:50:34 PM PST by eyedigress ((zOld storm chaser from the west)/?)
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To: SeekAndFind

Based on past and present Presidential performance, I wouldn’t hire a Harvard Law or economics grad to rake my leaves!


12 posted on 11/16/2012 2:55:08 PM PST by Boiling point (Socialism; Ideas so good they have to be mandatory.)
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To: SeekAndFind

“Going to college” is a meaningless phrase. Is acquiring a marketable skill, through either college or trade school worth it? Yes, assuming you manage the cost of the education so that it is proportional to your expected earnings. Attending a high cost private school and majoring in Elizabethan Poetry or Gender Studies is like flushing money down the drain. Attending a reasonably priced state school and majoring in Accounting, Electrical Engineering or Nursing can be a very good investment in your future. So is learning a trade, like plumbing/pipefitting.

We need to quit focusing on sending everyone to college, and make our priority making sure we are training a workforce for our current job market. Also, get rid of the idea of student loans. Make colleges price their product according to what people can pay with a part-time job or reasonable savings. $50K/year to attend college is ridiculous and is made possible by the ease of obtaining student loans. There is no cost accountability for colleges which is why we are seeing costs continue to sky rocket.


13 posted on 11/16/2012 3:45:51 PM PST by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
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To: SeekAndFind

Well, the answer to that question depends on a lot of things, but it certainly is not “yes, in all cases”, like the conventional wisdom goes. It’s probably easier to answer “When is is not worth going to college?”.

If your goal is to start your own business and be your own boss, you may not need college. If your career path relies more on demonstrable skills than education, you may not need college. If you have no clue what your career path will be, you might want to at least postpone college, rather than ending up with a four year degree that may not be applicable to the career you end up choosing, and a pile of debt to go with it.


14 posted on 11/16/2012 3:46:58 PM PST by Boogieman
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To: SeekAndFind

Well, the answer to that question depends on a lot of things, but it certainly is not “yes, in all cases”, like the conventional wisdom goes. It’s probably easier to answer “When is is not worth going to college?”.

If your goal is to start your own business and be your own boss, you may not need college. If your career path relies more on demonstrable skills than education, you may not need college. If you have no clue what your career path will be, you might want to at least postpone college, rather than ending up with a four year degree that may not be applicable to the career you end up choosing, and a pile of debt to go with it.


15 posted on 11/16/2012 3:47:14 PM PST by Boogieman
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To: SeekAndFind

Nope.

Education, healthcare, housing. All government subsidized and all over-priced.


16 posted on 11/16/2012 3:50:09 PM PST by gotribe
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To: SeekAndFind

Serve in the military for four years, earn money for college, major in petroleum engineering and your starting salary right out of college will be $100k. Works for me.


17 posted on 11/16/2012 4:18:36 PM PST by SVTCobra03 (You can never have enough friends, horsepower or ammunition.)
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To: eyedigress

I hear ya. I do low voltage. I am passed over a lot because when I am asked to lead a team one of their questions is always “do you know Spanish?” my reply is always “no, and the inspectors don’t either. Does your team know English?” most of them do not.


18 posted on 11/16/2012 4:42:57 PM PST by cableguymn (The founding fathers would be shooting by now..)
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To: Tublecane

All over the country high school voc courses have been trampled by laws that prevent anyone under 18 from studying the courses. For example, CDL was a free highschool voc course but federal law just turned into a college course with tuition.

Goals2000 is all kicked in.

In the meantime the 14 to 18 year old male is just dying to do some real work.


19 posted on 11/16/2012 4:50:00 PM PST by Chickensoup
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To: SeekAndFind

Go part time and work your way through. Go into the military and get education assistance. Even take classes while you are in the Military to get a head start.


20 posted on 11/16/2012 5:24:16 PM PST by Ecliptic (.)
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To: cableguymn

I’m a part of the data center set-up and it is very exacting. The folks before us milk it like a sovereign cow.


21 posted on 11/16/2012 7:04:10 PM PST by eyedigress ((zOld storm chaser from the west)/?)
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To: VegasCowboy

But all they have to do is work for a non-religious nonprofit or the gov. for 10 years (with 120 continuous payments) and complete “forgiveness” of their student loans of any amount is offered. and which provision may be seen as populating government with liberals


22 posted on 11/16/2012 7:15:22 PM PST by daniel1212 (Come to the Lord Jesus as a contrite damned+destitute sinner, trust Him to save you, then live 4 Him)
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To: SeekAndFind

College has turned into a scam where folks pay good money to become indoctrinated by Satan’s minions.


23 posted on 11/17/2012 2:21:10 AM PST by trebb (Allies no longer trust us. Enemies no longer fear us.)
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To: SeekAndFind

College should be funded by Pay as you go.

No Loans. You either work to pay for your Education, use money you have saved or get the money from your Family or some guilt ridden Alumni handing out Grants and Scholarships.

Tuition costs would tumble overnight.


24 posted on 11/17/2012 2:42:54 AM PST by Kickass Conservative (Win or lose, Impeach Obama Ben Ghazi...)
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To: Kickass Conservative

“College should be funded by Pay as you go.”

Here’s my tale of paying for college...

When I left high school, I went straight to college and proceeded to have too much fun and mess up my first three semesters. My parents told me to straighten up or they’d close the purse strings, but I was 19 and I knew way more than they did ;-)

I told them I was going to work for a year and then go back to college. They proceeded to inform me that I would be doing such a thing on my own dime.

A year or two in the workplace convinced me that my parents may have known a thing or two more than I did. So I got a job with a large management consulting company - but in a low-level administrative function. While I worked there, I took advantage of their tuition remibursement program and worked my way through college at night. Yes, it took me six years to get my degree, and I had to pay for a few courses myself, and it was a pain to work and study at the same time, but by the time I graduated I also had moved up through the ranks at my company - and I now had a degree, a good reputation and a regular paycheck at solid company, and no student debt.

I also had the priceless education that my parents gave me by kicking my tochas to be responsible for my own future!

It can be done - but it takes WORK, and being humble enough to realize that you won’t start out as the CEO. Lots of companies have tuition reimbursement as a benefit. It worked for me.


25 posted on 11/17/2012 6:59:11 AM PST by mrs. a (It's a short life but a merry one...)
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