The Great College Hoax

Forbes ^ | 2009-02-02

[MeanWestTexan]

Federal subsidized student loans (excepting the GI Bill) for anything other than engineering and hard sciences, teaching (yes, gag, but teachers are needed), medicine in all its forms should cease.

This would bring down the cost of college, force accountability, and enourage the pursuit of science.

(For the record, I am an engineer.)

[CottonBall]

I've fared pretty well with my philosophy degree.

What kind of work do you do related to the degree? I worked with a guy with a masters in philosophy. He was doing computer programming, but teaching at the community college on the side. Interesting fella.

There's always exceptions, but looking at the salary/# of job offers vs major - BS degrees come out on top. Of course, people need to go with something they love above all - their calling or whatever name we give it.

[KansasGirl]

[I think you now in many cases have to be an Education College graduate to teach in the schools.]

Yes, you must have all the proper brainswashing courses rather than just learn a subject (English, History, Math) and then teach it.

[jer33 3]

***Well, that’s the problem. Most liberal arts degrees are pretty useless in the real world.***

I’ve had plenty of open doors with my International Affairs degree.

[OneWingedShark]

>>a self-serving establishment trading in half-truths that exaggerate the value of its product;
>I love that line. And I couldn’t agree more.

Wait... when did we start talking about Congress? [/sarc]

[Tijeras_Slim]

What kind of work do you do related to the degree?

Radiation effects and directed energy. The degree allows me to spout cryptic stuff and frighten the physicists and managers.

[CottonBall]

Okay! There are always exceptions.

Again - if one compares the startin salaries and number of job offers for graduates, engineering, physics, math, and accounting are the top majors.

I think people should study what they like, first and foremost. And not go into something just for the money. BUT, if one chooses to study basket weaving, they need to realize that 1) they may not make the money other graduates get and 2) they may not have the job offers and advancement of other majors.

I’m sure there’s lot of people happy with their BA degree. But I’ve met lots of others that were teaching because they couldn’t get any other job. They hated it - and were lousy at it to boot. Foresight and taking responsiblity for one’s choices are the key.

[CottonBall]

Radiation effects and directed energy. The degree allows me to spout cryptic stuff and frighten the physicists and managers.

LOL - I imagine you can talk circles around most. Does the job, however, have any relationship to philosophy?

[Tijeras_Slim]

Does the job, however, have any relationship to philosophy?

I'll explain it all in my book "The Tao of Slim".

[CottonBall]

BTW, what department is International Affairs in? (I mean, history or business?) Business degrees, especially with an accounting background, are doing really well now too. Do you get to travel around a lot?

[CottonBall]

;) Ok. Ping me when it’s on Amazon.

[Txngal]

Well, that's the problem. Most liberal arts degrees are pretty useless in the real world.

I disagree. Not everyone is cut out to be in the sciences, but have a lot to offer in other subjects. While I would like to see more people take on the sciences, I know that there has to be stronger foundations for it in our public schools. The current state of public school's maths and sciences, at least where I'm at, there is a lot of focus on passing standardized tests. Anything else is secondary.

For me personaly, I tailored my degree to get into law school, but I changed my mind. Now I'm looking to get another degree.

[Carry_Okie]

Was there some reason this couple with two six figure incomes couldn’t live on one and use the other to retire their loan debt?

Taxes.

[Chickensoup]

Why didn’t they take their fancy law degrees and move somewhere cheaper?

Two reasons.

No recipicoity in many states. Anyone licensed just doesnt move, there are protectionist policies in place by the state licenseing boards (read guilds)

And what no place needs are more lawyers. In my state which has a law school and a small population there is hardly any job paying more than 30K that you are not competing with a lawyer for.

[Citizen Blade]

Together, they make in excess of $200,000. If they rented a small apartment or paid on a small home and had low ownership cost cars to drive, then there is no question that this debt could be quickly paid off.

If they got jobs with bigger LA law firms, their combined starting salary was upwards of $250,000. With income at that level, $190,000 in student loan debt is manageable, if you order your life accordingly. My law school roommate graduated with $120,000 in undergrad and law school debt, and paid it all off in about 3 years.

[Chickensoup]

That is because you are an engineer and engineers are smart.

[Secret Agent Man]

I can’t wait for the way overvalued college-bubble to burst.

[A Texan]

I am not sure what the wife’s degree was in but maybe one of them should have taken an accounting class or two. Also, having a 12% interest rate on a school loan seems pretty high, mine (which I got from the government) was like 4 or 5%.

[Chickensoup]

To undertake that financial obligation for a soft science degree and masters or law degree from a third tier university and then to marry someone who did the same thing might not be an ideal financial move. It works on a case by case basis.

You are ever so right.

[CottonBall]

disagree. Not everyone is cut out to be in the sciences, but have a lot to offer in other subjects. While I would like to see more people take on the sciences, I know that there has to be stronger foundations for it in our public schools. The current state of public school's maths and sciences, at least where I'm at, there is a lot of focus on passing standardized tests. Anything else is secondary.

True, people need to go with what they enjoy also. But need to realize their decision has consequences. I think we are now overrun with BA graduates but not nearly enough science/math/engineering. Numbers show those majors are dropping like a rock, and the number of foreign students are the only thing keeping those departments afloat. I also blame our education system. So few students are taking physics and calculus now that most high schools only need one teacher for each - and they have to teach other courses as well. Pitiful!

For me personaly, I tailored my degree to get into law school, but I changed my mind. Now I'm looking to get another degree.

What degree did you get and what other one are you interested in?

BTW, I am thinking of going back for a zoology degree. Yes, I know it will be fairly 'useless' on the economic scale - but I really want to study and work with big cats. So I'm not totally against people studying the less useful subjects. But I wish more had a dose of reality about what to expect when they're done. It's the entitlement attitude taught in high schools that is causing the problems.