Skip to comments.The College Wealth Premium Has Collapsed
Posted on 01/13/2020 3:59:56 AM PST by Erik Latranyi
Is college worth it? As the cost of American higher education soars, inequality widens, and wages stagnate, millions of Millennials and Gen Zers have asked themselves that question. The answer, at least from economists, has remained a resounding yes. One study found that college graduates earn nearly twice as much as their peers without a college degree.
But what if those earnings are no longer translating into financial security and long-term prosperity? A new study by researchers at the Federal Reserve Bank of St. Louis suggests that might be the case. College still boosts graduates earnings, but it does little for their wealth.
(Excerpt) Read more at theatlantic.com ...
One professor can create an online course to teach tens of thousands, not just 50 or 100 in a classroom.
The cost savings are massive and waiting to be exploited
The price of consumer goods has increased by a factor of four since the late 1970s. College costs have increased by a factor of 14, the study notes.
Greedy professors/administrators have sucked the value out of education. College costs far, far outpace inflation.
It’s not what you earn. It’s what you keep, don’t spend and invest.
“College still boosts graduates earnings, but it does little for their wealth.”
Youve got to pay for all those diversity deans and womyns studies programs somehow.
Yes teachers in India and Costa Rica. They can pay them way less. The professors clinging to their dogma and diplomas can learn to code.
I was a math major with a military science (ROTC) minor, both paid for themselves many times over.
And the Military Science part is continuing to pay for my retirement.
Maybe if there were decreased emphasis on leftist _______ studies and more on actual knowledge based curricula, the value of a college education would cone back.
College still boosts graduates earnings
So they can pay off student loans...
Huge net loss when you consider the fact that most have become complete brainwashing machines.
Online studies would reduce the “propaganda” portion of education.
Eliminating buildings, stadiums and multiple professors in the same field will save billions.
One professor teaches about 50 students. An online professor can teach 50,000 or more with no building, no heat, no infrastructure, etc.
To hell with the social life, fraternities and other non-education portions of a degree.
Pay for only the degree....$1000 for a degree is easily possible.
The best way to guarantee yourself good pay and retirement? Union and/or government job. Most of us private sector suckers can only dream of a pension and the lifetime benefits those people get (at our expense, no less).
That’s easy for you to say!!
How would my girlfriend have helped me cheat!!
All joking aside, how do online college exams work?
How do they know some brilliant Asian isn’t sitting next to you telling you what to answer.
And YES that was a stereotype :)
That’s been my position. There is no reason why lecture time cannot be taught by some superstar professor, who uses YouTube to explain the lessons, chatrooms for students to collaborate on, and special forums where more knowledge can be gathered.
Yup, Internet classes are the future. Those who want to learn will learn as well using their computer as sitting in a classroom.
The only things colleges are good for these days is indoctrination.
Well MIT has all their classes online.
I would expect that eventually with online identification advances, one would go to testing centers, be verified, then take exams. Testing centers have replaced large test administration events in most fields. why not in schools?
I'm seeing many colleges offering this as an option now.
My seminary classes are all online.
I take the tests when I want to...within a defined time period.
I can email or call the professor if needed.
I study when I'm done with work.
Without the online option I would not be able to do this.
That makes sense.
I HATE when I don’t think of things first :)
According to the U.S Department of Labor, 53.6% of college graduates under the age of 25 are either unemployed or underemployed.
At Harvard University, an Ivy League institution, students must complete:
1 aesthetic and interpretive understanding course
1 culture and belief course
1 empirical and mathematical reasoning course
1 ethical reasoning course
1 science of living systems course
1 science of the physical universe course
1 societies of the world course
1 United States and the world course
(For a grand total of eight distribution requirements.) https://qz.com/477052/the-4-year-us-college-degree-is-an-expensive-time-waster/
I know on line classes are available in some cases. I think the issue presently is to get those who hire the graduates to accept on line teaching as comparable to on site teching.
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