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College: Is it Worth it?

TalonStrike

TalonStrike

Senior member
Student loan debt in the United States is now higher than credit card debt. Yikes. Do you think that college is worth it? I say yes, so long as the person doesn't major in something useless at an overrated university.
 
depends on the person, but i think there are a lot of mcdonalds that don't need college graduates manning the fryer

the inflation rate of college tuition is some sort of conspiracy or scam or tragedy

Rate+of+inflation+in+college+Fee.jpg
 
How many specialists need a PHD in basket weaving or abstract art evaluation
 
depends on what you want to do.

there are plenty of solid trade skills that people can (and i think should) learn and make a quality living for themselves.

i don't see the point of 10,000,000 accountants, political scientists, etc.
 
I'd say getting a BS or BA is worth it as long as you exercise care when it comes to the cost of the degree (as you pointed out). I'm sorry, but people like the idiot couple on CNN.com who went $200K into debt for social worker degrees don't deserve any sympathy. How damn stupid can you be?

I also believe that with only a few exceptions (MD, JD, etc.), a graduate degree isn't worth it unless your company pays for it.
 
People that I talk to say to stay away from taking out a loan for college. You can end up so far in debt that it is very difficult to pay it all off. Imagine going through four years of college at $10k a year and then getting a job that pays $40k a year.

A $40k car shouldn't be purchased by somebody making $40k a year. It just isn't a smart idea. You don't even have the option to sell anything to help pay off the loan! The college loan is money borrowed without any physical item to sell back.
 
FoBoT said:
you are joking?
don't social workers make , like $30k a year? how long would it take to pay all that back?
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No, I am not joking. A couple of months ago, CNN did a story about college debt and they had one of their slideshows, each slide covering different people. Most had six figure debt, including the idiot couple (they were married) who got degrees in social work (one or both were Master's degrees) and had amassed $200K+ in debt and had no idea how they were going to repay it and were whining that it would take their entire working careers to pay it off.

We discussed it in P&N and your point is one that was brought up. Social workers are consistently one of the lowest paid professions and the stupidity involved with going $200K into debt for degrees in that field is beyond comprehension.

EDIT: This was the thread and it contains a link to the CNN article too: http://forums.anandtech.com/showthread.php?t=2173991&highlight=social+work+debt Oh, and I was wrong -- it was $240K in debt!
 
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You have senators that call in companies when they charge too much for gas, but they let this travesty happen and don't blink an eye.
 
Assuming you don't go crazy with the debt, then yes it's worth it. And if you go crazy with the debt, for some professions it's still worth it.
 
TakeNoPrisoners said:
People that I talk to say to stay away from taking out a loan for college. You can end up so far in debt that it is very difficult to pay it all off. Imagine going through four years of college at $10k a year and then getting a job that pays $40k a year.

A $40k car shouldn't be purchased by somebody making $40k a year. It just isn't a smart idea. You don't even have the option to sell anything to help pay off the loan! The college loan is money borrowed without any physical item to sell back.
Click to expand...

Your comparison is completely terrible, you are comparing two completely different things. A car is a tangible asset will always drop in value. You could sell it to pay off part of the loan, but you'll still be stuck in a shit job that pays nothing, now with extra debt.

An education, however, increases earning power (assuming you are getting a useful degree), which compounds over time. No, you can't sell your education to try to pay off the loans, but in the long run, you would make more than your money back (assuming you aren't a complete moron like said social worker couple). Education is an investment that pays off over time, not an instant gratification.

A (useful) college degree is still very much worth it. I went about $60k in debt for my education, but I increased my annual income by about $30k. Pays for itself after only a handful of years.
 
you are your most important investment. definitely worth it. but get a degree in something that will get you a job and decent pay.
 
IndyColtsFan said:
Why pay a dime when most good companies will pay for it? Especially when there is a glut of MBAs on the market.
Click to expand...

Because most companies won't necessarily pay for it, especially not all of it. 5 of my friends have MBAs, 4 out of 5 of them work for different Fortune 500 companies. The only person who worked for a company that paid for the entire MBA was the one that didn't worked for a Fortune 500 company. The rest had varying levels of reimbursement (from 4k/year to 8k/year), but if you are going to a decent ranked MBA program, that won't cover all costs, not even close.
 
BTW, there are alternatives to get a B.S. without all that debt

i started college in 1984 and got my B.S. in 1996
ten years in the US Navy, night school and credit for my navy schools/experience

nothing wrong with 'non-traditional' route as far as i am concerned
and college students that don't work at least part time bug the crap out of me

pricelessjob.jpg
 
Tsavo said:
Educasuion is over-reated.
Click to expand...

Wasn't that the motto of the tea bagger movement?
Humans (most humans outside of Texas) want to further their knowledge thru education.
Attending college in hopes of getting a job is only a small part of it.
Attending college is the natural way to satisfy ones desire for knowledge.
Assuming one graduated from high school in the first place...
And naturally to most Americans today, what I just stated they cannot comprehend...
You can see that in the way they vote, the way they constantly are duped, and the way they constantly vote against their own best interest.

It's not the top 1% we need worry about, it is the GW Bush's, Cain's, Romney's, Bachmann's and the Gingrich's we should worry about. The "con-men". For they know their flock only too well....
 
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