College degrees do not guarantee a job, but they shouldn’t push students to the brink of poverty, either.
While there can be no debating the value of education in all of its forms, the current American system of education certainly needs to be discussed. Not only are graduates strapped with debt, but they also struggle to find jobs in their fields and sometimes even jobs at all. This has a tremendous negative impact on them as individuals and on us as a society. I admit to still owing some $40,000 in student loans, and although I’m grateful for the opportunity my country gave me to pursue an education, I’m concerned about the many others I know who are far more in debt and who still have not found a way to make the minimum payments on their consolidated loans. The American system of higher education allowed me to discover myself and find my path in life – and there can be no price tag placed on the importance of this – but this same system is wasting the skills of many of our country’s brightest minds and forcing them (and therefore our country) into even more debt. It’s an air conditioner on full blast in a room where the windows are open. OnlineCollege.net highlights some of these problems in their infographic:
See Also: The Soaring Cost of College Education
–Photo: DonkeyHotey/Flickr
Shouldn’t we encourage people to think before they get the Ph.D. ? If the program is out recruiting students who would have marginal chances of getting employed, that probably means the program itself is kind of marginal and is just hoping for the cash that comes from government loan guarantees.
We should all think well before we pursue higher education. Like so much of the money system, many were seduced into easy loans and low interest and assuming that their job future would be enhanced. Too many people overstepped and are now paying big penalties. Those of us that got the PhD have to accept ultimate responsibility, but my point is that as a country we give an unfair advantage to certain groups. Certainly investing in a PhD had its risks, but so did the investing that big banks did. If we thought it was a good investment to bail… Read more »
Folks, you need to check your sources better before forwarding them. Online colleges.net (also known as Stephanie Marchetti of Glen Ellyn, Illinois) is part of a pretty impressive link baiting scheme.
I went back and got a PhD after I was 60. I thought I’d invest in myself rather than in stocks and bonds. I am in debt, but I’m glad I did it. There definitely needs to be better ways we pay for things like health care and education. I would like to hear more about the site and the information. Is this accurate or not?