Is there really any return on investment for college these days?

Question

College tuition is so expensive these days and inflation going up, unemployment rising, the economy is diving, and more jobs are going overseas is there really any benefit to going into debt with a possibility of ending up with a job that only pays $30k-$40k a year. Grants and Loans help but the debt you will have when you walk away is overwhelming not mention that most people dont even end up going to a career in which they got a degree.

Answer 1

Absolutely.  Choose the right major and you can't go wrong!

Answer 2

hey, the world needs broom-pushers, too i guess.

you go to college so you can get a job where the job description doesn't involve toilet scrubbing.

if you ask me, that's a huge return, no matter the cost.

besides, the only people that should study english lit or any of those other 30k/yr jobs are people training to be housewives, who only even go to college to meet a husband.  nothing says you can't just major in something with a future.  NACE has been pegging starting salaries of computer programmers in the 60's, and most business degrees from decent schools should get you around 50k to start right now, anyhow.

...definitely beats scrubbing toilets for minimum wage.

Answer 3

A friend of mine went to a financial consultant when his son won a partial scholarship to Yale. He asked if it didn't make more sense to pick Cambridge, which offered a full scholarship. His consultant disagreed. More than the diploma, Yale offered life time career altering contacts. College is not just education. The grades, the school you choose, the people you meet open doors of opportunity that others will never have. On average, a college grad will make about 50% more than a non-college grad in his/her lifetime. 80% of small businesses fail because the owner did not know how to run a business. The new millionaires are those who got an idea and made it work. Some college grads have to work overseas for a few years to get the experience. That's life! You gotta go where the work is. A degree just helps open the door!

Answer 4

Yes ~ short answer.  and working at ways to not go into deep debt in the process is wise.  Going to school is about teaching you "how" to think, not what to think (hopefully that is true of the university/college you choose to attend.

Education of all kinds throughout your life will only benefit you.  The topic of debt is a separate one.  There's no need to bury yourself in debt to become a life long learner.

Answer 5

If money is your main concern, then you should DO YOUR RESEARCH on which degrees make the most money out of college, and which have the highest rates on finding a job out of school.

If your money is going towards educating you in an area that you will love working in, then it is worth it for many people.

If you are looking for something personally, I believe that Engineering has the highest out-of-school income rating this year.

You have to figure out what is most important to you, and figure out what the best options for YOU are.

Good luck!

Answer 6

returns can be negative too, so there is always a return.  

Yes ~ short answer. and working at ways to not go into deep debt in the process is wise. Going to school is about teaching you "what" to think, not how to think (hopefully that is not true of the university/college you choose to attend.

Education of all kinds throughout your life will only benefit you, but the cost of education may outweigh the benefits and the topic of debt is closely related because you will have to pay interest on your loan. There's no need to bury yourself in debt to become a life long learner while living in poverty.