college is a waste of money

[comagnum]

Any tech company that picks liberal arts over MIT or Stanford graduates would make for a great short. Knowing Shakespeare will not get you far working in a high tech industry.

 

[newwurldmn]

For sure, although one could argue that someone who gets a marine biology degree and spends the next 20 years making $30k a year diving every day in Belize didn't "get their money worth" from their college education given they could have apprenticed as a plumber in Topeka and be making a lot more. And oddly enough some people do argue that. Of course those are generally the people who didn't make it far from Topeka.

If You look at the world transactionally then being a marine biologist is not an acceptable option. So you compare a plumber to a business or engineering major.

 

[eurusdzn]

I’m assessing the value based on what a degree in a private U.S. University costs and what that gets you in return.

In my opinion, six figures of debt at 22 years old isn’t worth it for the large majority of people.
Especially now that you can get almost the same knowledge for free online.

American restaurants, vacation rentals, Home Depot and a wide variety of businesses lose future revenues as the lenders to these tenderfoots stake an early claim.
Or am I wrong , that the lifetime excess earnings from that Bachellor of Arts degree will net positive. I would bet on the kid who leans to frame a house at 18 and trades the Heng Sang in the evening.

 

[newwurldmn]

American restaurants, vacation rentals, Home Depot and a wide variety of businesses lose future revenues as the lenders to these tenderfoots stake an early claim.
Or am I wrong , that the lifetime excess earnings from that Bachellor of Arts degree will net positive. I would bet on the kid who leans to frame a house at 18 and trades the Heng Sang in the evening.

If you know that 99percent of retail traders fail, why would you bet on a guy who either lacked the aptitude or the drive to further his education to succeed at trading? It doesn’t make sense. It’s like betting on a 5’0” player to succeed in the NBA. Statistically it’s possible, but......

 

[DeltaRisk]

Plenty, as you know ... but one usually hears (in such discussions) about Bill Gates and Mark Zuckerberg, who are advanced as "examples of hugely successful people who never graduated college".

(Obviously this "reasoning" is totally missing the two key points that (a) they're both people with a previous educational background which got them into Harvard in the first place, and (b) you hear about them specifically because they're prominent exceptions to the rule ... the reality being that there's still a huge worldwide correlation between graduating college and future income - and that's even for people narrow-minded enough to choose to look at it only in financial terms.)

Bingo.

 

[RRY16]

American restaurants, vacation rentals, Home Depot and a wide variety of businesses lose future revenues as the lenders to these tenderfoots stake an early claim.
Or am I wrong , that the lifetime excess earnings from that Bachellor of Arts degree will net positive. I would bet on the kid who leans to frame a house at 18 and trades the Heng Sang in the evening.

Who says you can’t learn to frame a house at 18, go to college and get a degree have your own construction company and trade the ES before work west coast time.

 

[DeltaRisk]

There are no billionaires who have graduated college?

I clearly didn’t explain myself correctly.

Drop outs and ones with only a highschool diploma have burnt their boat so to speak.
They’ve got much more to lose.

Diamonds are made under pressure, not under the comfort of Netflix and daddy.

 

[Sig]

I clearly didn’t explain myself correctly.

Drop outs and ones with only a highschool diploma have burnt their boat so to speak.
They’ve got much more to lose.

Diamonds are made under pressure, not under the comfort of Netflix and daddy.

Actually there's not much research to support the idea that desperate people are more successful than comfortable ones, despite the folksy feel it gives. The vast majority of high school dropouts are far less successful than high school graduates who in turn are far less successful than college graduates. And that doesn't even take into account the vastly greater choice in profession and lifestyle that education gives you, which is a far greater predictor of happiness than money.

 

[smallfil]

There is knowledge and there is education. nowadays knowledge is almost free, one can watch full MIT curses online and such. I estimate about 1/3rd of American students shouldn't be in college at all. But if you are a HS counselor and advise a technical school you can get fired for that...

For one thing, a lot of students in our schools nowadays have not passed the grades they are in and are deficient in skills be it math, english, science at the higher grade levels their teachers put them in! Their reasoning being, let the student be the problem of someone else! That is why kids take courses like Sociology in College just to be able to say, they have a degree! The best degrees to have would be in Computer Science, Engineering, Math because it is needed in most businesses. That said, you do not want to be an employee for life!

 

[DeltaRisk]

For one thing, a lot of students in our schools nowadays have not passed the grades they are in and are deficient in skills be it math, english, science at the higher grade levels their teachers put them in! Their reasoning being, let the student be the problem of someone else! That is why kids take courses like Sociology in College just to be able to say, they have a degree! The best degrees to have would be in Computer Science, Engineering,
Math because it is needed in most businesses. That said, you do not want to be an employee for life!

I’d have to disagree on your first point.
Most HS grads, even if they’re STEM educated.... don’t pursue those types of degrees. I know first hand.
Even if you qualify for an IVY, it doesn’t mean you want to take on the challenge.
We have entered a new normal.