Posted on 11/25/2019 7:23:21 AM PST by karpov
he College Scorecard, a Department of Education initiative that publishes data on student debt and earnings after graduation for thousands of schools, just got a major update. Previously, the Scorecard’s major shortcoming was that it only reported data at the institution level—so we could see how much a typical graduate from the University of North Carolina-Chapel Hill earns, but not how much an engineering major earns relative to an education major.
Since the payoff of a college education varies wildly by field of study, the usefulness of this dataset to students was limited.
No longer. Last Wednesday, the Department unveiled a new edition of the Scorecard which allows prospective students to view these outcomes data by both institution and program. The updated Scorecard publishes a dashboard geared toward prospective students, as well as comprehensive files to help researchers and journalists analyze the data en masse. The data includes median student debt and median earnings after graduation for some 41,000 programs.
While the data have limitations—debt and earnings figures are suppressed for small programs due to privacy concerns, and the earnings data only reflects the first year of student income after graduation—the new Scorecard will do much to advance our knowledge of student debt and earnings across tens of thousands of educational programs.
For instance, in the average bachelor’s degree program, students leave school with a debt burden equal to about 80 percent of their salary in the first year after graduating college.
The debt burden for master’s degree programs is about 86 percent of earnings. But for first-professional degrees such as law and medicine, median debt is much worse: it is equal to about 257 percent of earnings after graduation.
(Excerpt) Read more at jamesgmartin.center ...
Let’s be clear: The university “education” system is more indoctrination than education, as well as an ability to control the economics via monopolization of student loans, allowing greater increases into tuition while simultaneously preventing graduates from using any employment salaries for stimulating the private economy because of the need to repay the loans (which cannot be bankrupt unlike private party loans).
This is why Congress needs to severely restructure, if not eliminate, the student loan program. But it’s not going to happen anytime soon. Betsy DeVos can only do so much.
Except the smarter women (the best kind, IMHO) know darn well that the plumber is probably employed in a well paying field, while the guy with the master’s in Gender Studies is making lattes or flipping burgers.
I pursued music, but the deal was my parents would try to support that *IF* I learned a trade first. So spent a couple of years playing in blues and country bands by night and getting certified (all rods, thicknesses and positions) as a welder at the JC.
Both were fun. Somehow I ended up an IT geek, but still have a MIG welder and love doing it as a hobby.
If anyone thinks there’s any dishonor or opprobrium to being a plumber, roofer, welder, or the like, I don’t want to meet them and care nothing for their opinion.
The best, and ‘easiest’, is New Construction, as far as plumbing. Only bad smell is the PVC/ABS primer.
Lawyers are bully bottom feeders with egos.
CPAs are a toss up.
Plumbers get upwards of $200/hr., have no student loan debt and will always be in demand. https://www.kvue.com/article/life/holidays/brown-friday-day-after-thanksgiving-plumbers-busy-day/269-dc6f162a-ac04-4c18-a57e-b8a65aa2a281
Best of all works is earning a stem degree and learning some trade skills. Then you don’t have to pay someone else to do the plumbing, electrical or carpentry work.
Plumbers work on backed up sewer lines...my last choice for any job.
Lawyers run the country! 90%+ of politicians who run our lives are lawyers.
Actually doctors are not high in my list. Because NOT ONCE has any doctor told me to exercise on a treadmill...EVER!
I have more energy and more strength than I had at age 59 and better blood glucose levels, better blood pressure, less hip joint pain, less knee pain, less chest pain after eating a big steak, and main change I made in my routine is treadmill every other day. 80 candles next year, and age 100 is looking bright and possible if I keep up the treadmill. Why no doctor ever told me????
It all began with Sputnik. The first government college loans were National Defense Student loans to help Iowa farm boys enter the space race.
Yes I remember it well. The Sputnik orbit caused hysteria in DC.
Sorry, but first rule of being a plumber is don’t chew your fingernails.
Bimbos with wealthy parents (who buy their kid's classroom spots) use Underwater Basketweaving to secure husbands for the losers.... so let's not be too rough on basketweaving majors...
Agree. My kids all have great white collar careers, but I made damn sure that they could do brake jobs, plumbing, electrical work, and some AC work (caps, contactors, fans, etc.), before they ever got out of my house. Otherwise, I would have failed.
Plumber, Air Conditioner/Heater tech, or Electrician are all good skills to have in both good and bad economies.”””
I have done accounting/bookkeeping since the summer of 1957, out of high school. I never went without a job—altho sometimes I wasn’t working at accounting. I sold auto parts & worked in a machine shop for a 2nd job when I had to.
I have done bookkeeping for small businesses since 1980, self-employed. I didn’t have benefits, but I did have loyalty. I still have ONE client-—and I have done his books for 50 years this month. To the best of my knowledge, none of my work has ever been audited.
It also is a VERY portable job.
“Become a plumber.”
You are right. There are many high paying jobs with Vocational skills as a requirement, available. In addition to Plumbing, Welding is a good earner as well.
In my basement ...
Yep, there's a certain amount of snaking out drains, if you want to make money, but there are a lot of other things you can do without getting your hands ... dirty.
Doctors don’t tell you because your dependence on doctors becomes their cash cows to sell services and expensive mexicines. Their cash cows die and they need new cows to find their retirement accounts. You’re doing well by exercising and needing less medical care. In your case, some doctor can’t buy a sports car at your expense.
The data includes median student debt and median earnings after graduation for some 41,000 programs.
There is the problem right there.
There should not be 41,000 programs.
True. The brothers worked their way up to only $1 million and up. They’ve had setbacks like when their $85,000 backhoe was stolen.
My 20 year old son started a job as a semi driver on Saturday. With overtime he should pull down about $50k a year. It cost him $1000 for the CDL class.
My daughters make about the same with associates degrees and no debt.
The other kid is an aerospace engineer. Makes about $75k and paid off college in 13 months.
There are many roads to good careers.
I’d rather work on a sewer than a kitchen.
Everybody’s S**T smells about the same, you learn to deal with it. Rotted food, however ....
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