The case against college.

A degree is like the US dollar. Both are just pieces of paper, but there is perception of value, really only because the govt says it does.

Is a degree worth 30k a year..50k..100k?...the market will decide, but again, like currency, it will always be important and valued one way or another.

People see that the return on their college investment, right now is shitty at best, while college prices soar...most say "whats the point". Why shell out thousands when you cant land a decent job?

I think people with a degree are better off than those without. They will always have more opportunities available to them, and thats a fact.
 
It's perfectly logical to assume that college is a 35 year bubble (the posted article was written in 1975) As a connected aside- look at the S&P500 as a surrogate for US productivity growth - obviously there has been none in 10 years other than a bloated financial sector bent on replacing the real economy with the surreal economy.

Many intelligent people- say Peter Thiel for one will argue that education, healthcare and government are huge bubbles that facilitate inflation without generating an increase in productivity. Eventually the system will readjust itself. Unfortunately, look at the U of Phoenix or Career Education - these bubble stocks keep moving forward or holding their own in spite of the fact that they provide very little for their clients.... and many an article has been written recently about their abuse of privilege due to connection with loans backed by the US.

As a result of these colleges that provide no actual trade skill, it becomes a place where students become debt machines, indentured servants when they join the workforce and start families after college, they often have no choice but to service huge debt loads and often make poor decisions with their money because they borrowed so much to finance their cost of living (rent, food, etc) and in addition, the tuition itself, and because they never learned the value of saving money in the first place as it was socially accepted and encouraged to borrow, borrow, borrow.
 
If my desk were taking on new traders I would advise they hire a battle hardened soldier or Marine over a college grad. Grads want 6 figs++, company car and free lunch straight away. Honorably discharged veterans want a chair and fair shot to prove themselves.
 
Quote from lasner:

No it doesn't...it means that 10% unemployment are currently on unemployment. It doesn't account for all of the people that are off of unemployment and still unemployed.

True unemployment is around 15-20%
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Yes it does. You are obviously entirely missing the point that 100-X still represents those considered employed. The collection of information used for the definition of employment/unemployment is clear. Twiddling with the theory and the issues and the fairness behind a statistic is a separate issue.

And trying to pick what "you" consider as employed is obviously only focusing what you want. It is well-known that in most countries, there is a huge black market and those working under the table, which offsets much of those not counted. There are many on various kinds of short and longterm disability or insurance payments, including SSI. And in the west, many people who are unemployed or unemployable collect large amounts of various fed/state/local funds. There are people on section-8 housing, unemployment, medicaid, welfare, food stamps, heating oil and charitable contributions who choose not to work because they make more than if they had a job. That was why there was welfare reform - you had 3+ generation welfare families.

And regardless of which stat and numbers one holds to, the situation for non-degree holders is far more abysmal. They earn usually 40% less, and have twice the unemployment rate in their lifetimes.
 
Quote from indahook:

If my desk were taking on new traders I would advise they hire a battle hardened soldier or Marine over a college grad. Grads want 6 figs++, company car and free lunch straight away. Honorably discharged veterans want a chair and fair shot to prove themselves.
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a chip and a chair, is all I ask for.
 
Quote from indahook:

If my desk were taking on new traders I would advise they hire a battle hardened soldier or Marine over a college grad. Grads want 6 figs++, company car and free lunch straight away. Honorably discharged veterans want a chair and fair shot to prove themselves.
More...
If the grads picked the right major (petroleum engineering), right college, and got good grades throughout, 6 figures is right about where they'll start, with the possibility of up to $30k signing bonus. 100% hiring rates right outta college as well for the last 7 or so years at my school.

Its one of the few fields where a 4 year degree means something because it is hard fucking work to get that degree. And people will always want as much cheap oil as they can get.
 
Quote from Tracy McGreedy:

College is where your daughters lose their virginity.
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Maybe in 1975 when this article was written. Try age 15 now in your house while you are toiling away in your corporate cubical.
 
I hope the title is not going to misguide young people. Education is very important, not only as career credentials but also as life quality.
College degree is not an issue until you do not have one. Get as much education as possible, even doing it part time.
 
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