Posted on 06/25/2019 11:38:06 AM PDT by detective
Two-thirds of employees report regrets about their advanced degrees, as Americans question the high cost of higher education.
Student loan debt has ballooned to nearly $1.6 trillion nationwide in 2019, topping the list of regrets for employees.
Science, technology, engineering or math majors, who are more likely to enjoy higher salaries, were least likely to report regrets, while those in the humanities were most likely.
A college education is still considered a pathway to higher lifetime earnings and gainful employment for Americans. Nevertheless, two-thirds of employees report having regrets when it comes to their advanced degrees, according to a PayScale survey of 248,000 respondents this past spring that was released Tuesday.
Student loan debt, which has ballooned to nearly $1.6 trillion nationwide in 2019, was the No. 1 regret among workers with college degrees. About 27% of survey respondents listed student loans as their top misgiving, PayScale said.
The findings illustrate why education loans burdening millions of Americans have become a hot-button issue among some Democratic presidential candidates. Most recently, Sen. Bernie Sanders on Monday proposed a plan to impose a tax on Wall Street trading and use the proceeds to erase that $1.6 trillion of debt.
(Excerpt) Read more at cbsnews.com ...
I MIGHT be in favor of student loan forgiveness, but only on the condition that the schools that got the money gave it back.
Yeah. I guess spending $50k to earn a major in Interpretive Afro-Haitian Dance can only take you so far. I tell young people to learn a trade. Like plumbing.
From the article:
“Science, technology, engineering or math majors, who are more likely to enjoy higher salaries, were least likely to report regrets, while those in the humanities were most likely.”
News flash - STEM degrees are worth something. Well, duh.
BSEE / MSEE - Paid as I went/NO student debt
Worked my way through and took night classes - a true hoi polloi...
I think the universities should use their endowments to pay off the student loan debts.
BS in Resource Management, multiple CyberSecurity certifications, and MSM in Project Management. I have no regrets and a very nice salary.
Of course none of those are Underwater Basketweaving degrees.
I guess spending $50k to earn a major in Interpretive Afro-Haitian Dance can only take you so far.
*************
Might get one elected to congress though. ;)
I was thinking the same thing. At minimum 50% of it back whatever is equal to a college tuition in the mid 70's to mid 80's. The colleges took advantage of the government backed student loans by skyrocketing the tuition costs.
They should study how India and China get degrees.
Only Americans get degrees in Psy, Social Justice and Basket Weaving.
Seven years of military service allowed me to get BSEE and MSEE through GI Bill...
Thank all of you.....
I had a professor once tell me that if you had a high school diploma, you would learn to say “do you want fries with that?” If you had a fine art degree, you would need to learn new phrases, like “would you like to see the dessert menu?” or “may I refill your water?”
I wish I had majored in gender studies with a minor in Social Justice, rather than my worthless French degree.
Absolutely zero reason for endowments to go to paying off student debt. The schools with big endowments are the But League types that deliver for their students, regardless of cost
(And also often give them all the funding they need outright.)
“Worked my way through and took night classes - a true hoi polloi...”
LOL! My friends and I that were working on our degrees while in the Army called it, “The MasterCard Education Plan.”
None of us had any student debt; the Army reimbursed some, and we just paid off our CC at the end of each semester. We had ZERO housing or food or transportation or clothing expenses. Pretty much ALL of our income was gravy...may as well USE IT to better yourself both in and out of the military.
It was a no-brainer, as they say. ;)
Regrets?
My ONLY regret is not shooting him back when he deserved it; I’d be outta prison by now!
*Ba-Dump-Dump* *TISH* :)
Studying the Liberal Arts doesn’t have to be a waste of time and energy and money.
The problem with a Liberal Arts education in this country is that the teachers are so bad at their jobs.
Too many Liberal Arts instructors decided to teach because they didn’t know what else to do, or because they were highly excited by the specific area they teach.
It takes additional effort and thought to make some of the Liberal Arts relevant to students.
But, it can be done.
And what a richer life the student will lead.
And only those portions of the loans that were used for educational purposes were forgiven. In other words, loan money used for Spring Breaks, food, or other non-classroom educational expenses would continue to be borne by the student and/or school.
I want restitution for every regret I’ve ever had.....and I want it NOW! Don’t make me regret this!
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