High Cost But Useless Master's Degrees and Who's Offering Them: Students overpay for useless degrees and end up financially hobbled for life

Mish Talk ^ | 07/09/2021 | Mike Shedlock

[Tell It Right]

Missing from the list of "solutions" is career planning. You need to pick a good career. Ask people in that career if it's worth it. Ask them what kind of training is good to excel at the career and make them want to hire you after you get that training.

Do all of those things before going to a "school".

[Lurker]

“Stupid is supposed to hurt.” Lurker’s Granddad.

L

[TnTnTn]

Academic financial complex…

[laweeks]

I know the feeling. My Masters Degree in Medieval Plumbing has yet to pay off.

[goodnesswins]

Need to teach risk reward and financial analysis in high school...or at least smart parents should.

[Dr. Sivana]

Recent film program graduates of Columbia University who took out federal student loans had a median debt of $181,000.

In my freshman year at U of Chicago, I had a talented housemate who was far from wealthy. He transferred to USC FILM SCHOOL, graduated, went on to U of Chicago Law School, clerked on SCOTUS for Brennan and Souter (he is liberal, of course), and since then has been partner in high-powered law firms, president of a significant motion picture corporation, and law school instructor.

So, it works for some people.

[Spok]

Some can barely pay the interest on their loans. Our colleges and universities have become institutions of indoctrination and indentured servitude.

[Blurb2350]

I’ve been looking high and low for someone who can design a vomitorium for me. Interested?

[SeekAndFind]

RE: So, it works for some people.

OK, out of a hundred students of FILM SCHOOL, how many end up like your housemate?

[Signalman]

What’s the first thing a graduate with a B.A. in Ethnic Studies says their first day on the job?

“Would you like to super size that order?”

[gr8eman]

This is a good thing! Used to be that 3rd Grade was the cutoff for stupid people. Then it became 12th. Now, with close to no standards, it’s the ‘degrees’ in narcissism!

[Leaning Right]

College students need to do their own due diligence. But a good part of the blame must be assigned to their lying advisors.

Consider an 18-year-old college kid. He likes movies. But more than that. He has an interest in how movies reflect society, and they shape society. So he meets with an advisor in the film department. It’s that advisor’s job to get students to take film classes. So he’ll flat-out lie to the kid. He’ll tell the kid about all the “opportunities” available to a person with a degree in film.

Next thing you know, the kid has a worthless degree, and is deeply in debt.

Is there a solution? Yes. Make colleges co-sign loans. Of course, that will never happen.

[dfwgator]

[Starboard]

Where the heck is someone with a master's degree in stagecraft, art, history, political science, photography, English, foreign language, culinary arts, etc., etc., etc., supposed to get a job that will pay the bills?

*************

The federal government. All that is needed to get a good paying, secure job is liberal political connections. No other qualifications necessary.

[RayChuang88]

Interestingly, the University of Pennsylvania is a school where you get actually useful college degrees. It's not a coincidence that one Donald John Trump graduated from that school and not some place like Harvard, Yale, Cornell or Columbia.

[Reily]

One thing more useless then a high school career guidance counselor - a college career guidance counselor ( or your college major advisor !).

[Rennes Templar]

“His graduate school loan balance now stands at nearly $300,000,”

What was he thinking?

[Grampa Dave]

Any useless degrees, especially master’s degrees are Financially Hobbling for Life.

They should be labeled as IUD’s, aka Instant Unemployment Degrees!

[HerrBlucher]

What a racket. This needs to end.