Is College Worth the Cost for Generation Debt?

News Type: Event — Seeded on Wed Aug 29, 2007 1:28 PM EDT

Article Source: quote.yahoo.com

business, money, finance, college, debt, cost

Many readers have suggested that I tackle a thorny question: Is college worth the cost?

Obviously, I went to college. Most other financial "experts" did, too. So the opinions we give tend to be biased in favor of the many fine experiences that our alma maters had to offer.

For the purposes of this column, however, I'll put aside the important intangible benefits such as widening cultural horizons and developing critical thinking, civic participation, healthier living, and stronger relationships. In strict dollar terms, is that degree going to be worth the parchment it's printed on for Generation Debt?

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{"commentId":986740,"authorDomain":"PHATjoe"}

PHAT Joe

Its only worth it if students hustle to get a good paying job before the first payment on that loan is due. If you don't get that you just spent 10's of thousands to get indoctrinated with out of date, liberal thinking, have a bunch of 1 night stands and get drunk on Tuesday nights for 4 years - nothing you can't do by hanging out in the artsy part of town.

Oh- unless of course you go to an Ivy and make some good connections...

I'm kidding of course. Education is an invaluable asset, and you will earn over a million more than a non-college graduate in a life time - or at least that is what they tell you... I know plenty of Liberal Arts degree holders who make $8 and hour.

{"commentId":986740,"threadId":"144544","contentId":"929610","authorDomain":"PHATjoe"}

1 vote

#1 - Thu Aug 30, 2007 11:17 AM EDT

{"commentId":987503,"authorDomain":"kurtstack"}

kurtstack

Yep, but if you look at it economically the money you would have earned and invested during the 4 years you spent in college would have added up to a lot more over time based on compounded returns. So - economically it doesn't really make sense except for those few people who become CEO's and medical surgeons.

{"commentId":987503,"threadId":"144544","contentId":"929610","authorDomain":"kurtstack"}

1 vote

#2 - Thu Aug 30, 2007 3:04 PM EDT

{"commentId":988470,"authorDomain":"kikaiju"}

kikaiju

Tell that to employers, then. Some of them seem MUCH more interested in the paper somebody has rather than whether the worker can actually, um, work.

At my workplace, I've seen plenty of new hire graduates -both recently in school and not- who are obsessed with putting up school pennants and game schedules in their cubicles than they are obsessed with learning how the company does things.

Using the white board for work? What a concept!

So it's pretty much an office joke these days when the new people come in and immediately make it clear which school they went to. We know what we're in for.

{"commentId":988470,"threadId":"144544","contentId":"929610","authorDomain":"kikaiju"}

1 vote

#2.1 - Thu Aug 30, 2007 9:29 PM EDT

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Is College Worth the Cost for Generation Debt?

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