Higher education bubble appears to be popping


#1

I’m sure many of you remember me posting years ago that higher education is worthless and people should avoid it. Some of you listened to me, and I’m sure you now feel vindicated if you’ve read any articles the past year on this subject. I know I do.

I’ll post a few of them, but they’ve been going on the past year or two and I’ll probably miss them from a google search:

http://finance.yahoo.com/news/Tech-mogul-pays-bright-minds-apf-2401770798.html?x=0&sec=topStories&pos=3&asset=&ccode=

http://articles.moneycentral.msn.com/CollegeAndFamily/CutCollegeCosts/is-a-college-degree-worthless.aspx

http://www.captionsverbatimpro.com/2011/05/26/178/

Feel free to post more. They run in the WSJ, Times and many other publications.

So here it is, I’m warning everyone again. Those of you that argued in the past, I’m sure you won’t own up to it or change your minds, so whatever. If I save people, that’s enough for me. There are very few reasons to get that education, but sometimes it does make sense. More than often it doesn’t though.

Remember: you are not Wall St., you are not part of the banking cartel. You get no bailouts, you get no protection at all. Going into debt will destroy you, so don’t do it. Raise your financial IQ instead.


#2

Financial IQ? Anything else you wanna tell us Rich Dad?

Higher Ed is only worthless for some degree paths and @ our current unusually high unemployment rate. Don’t throw a few articles 'round to blast the entire concept of higher ed. Next up you gonna tell us to flip real estate risk free using somebody else’s money and make an easy over night fortune?


#3

duh

wut
clarification: seriously, what? i mean i knew the first thing you said, but what the hell do you mean by financial IQ. where are THOSE articles

lol


#4

150k for law degree where there’s tons of unemployment and the avg salary isn’t that high
why isn’t that logic question on the lsats
potential lawyers aren’t so smart


#5

its to late for me, im on this wild expensive ass ride until it stops… paying nearly 15k for an associate’s degree…gtoh with that noise…what was I thinking…

ill just grab an entry level job and go from there when im done


#6

Things are expensive in the States, I have to pay 3.5k a year ( roughly), so 10.5k overall. That being said 2012 onwards it will cost people 9k a year.


#7

All for the “american dream”


#8

I’ve always wanted to say that I have no regrets. It wouldn’t be true, because this college degree is a joke and I regret it big time. Listen to Serpent, he knows what he’s talking about.


#9

http://www.bls.gov/news.release/empsit.t04.htm

Unemployment rates-

Bachelor’s degree or higher: 4.5%
Associate degree or some college: 7.5%
[SIZE=15px][FONT=Helvetica][COLOR=#141414]High school graduates: [/FONT][/SIZE][/COLOR]9.7%
Less than HS diploma: 14.6%

So one could make the case that calling a college education “worthless” is an exaggeration. I don’t have particularly strong feelings either way, just saying.


#10

Eh.

A higher education is always a good thing.

As the one article points out, there is an ever increasing demand for people with proper classical education.

Just because some idiots put forth classes in under water basket weaving, and other idiots took said classes, does not damn the entire institution of higher learning itself.

And the schools are not the problem, as far as loans go - the rich cocksucker motherfuckers who wish to keep everyone else (particularly those who could earn it on their own merits and gifts) from obtaining a sliver of the wealth pie, and thus make getting such an education such an unmitigatable financial ordeal, are the problem. We need to destroy the oligarchy before it gets to the point where the entire populace is so ignorant and uneducated that [the oligarchy’s] very existence fades into Machiavelian shadows, as they would have it.


#11

I think you can come out ahead with a college degree, but you have to go into fields of study that have a real world application, AND have demand. Most of people who go to graduate school for liberal arts will never be able to get a job, much less tenure.


#12

that was one of the reason i laughed at my coworkers whom getting their masters in public administration. It is not that is a bad one but honestly it is difficult to get work since many of these positions are filled and wont get opened until these people retire.

[media=youtube]NcoDV0dhWPA[/media] ROFL


#13

Wait - you are telling me that my pursuit of a double bachelor’s in Asian American studies and African American studies won’t get me a job?!?!?!


#14

People are taking higher education the wrong way. It’s supposed to show you so many different perspectives to help you grow as a person, and most importantly develop critical thinking skills to allow you to asses situations and come up with an individual conclusion and not be bull shited by others. It’s not meant to make you this rich and succesful person. Part of the problem is, under the current system if you don’t go to college you are worthless and will never amount to anything. This sort of propaganda makes everybody chase a degree and artificially inflates the price of education because everybody wants it in order to be someone, and lowers the actual value of a degree. it doesn’t help that everybody is getting a degree in computers or art, carriers which could be attained by other means.

another issue with a degree being as useless as it is, is due to the focus on GPA. students are so fixated on that shit, that they don’t develop real world skills like critical thinking.


#15

great point and unfortunately that is the case now. Too many employers would have the audacity and say “must have a 3.0 if you want to work for my organization” Many whom are in the game of getting their masters are on that “make more money”, while increasing their debt and lowering their net worth.


#16

Most of the statistics used are total garbage. The government can’t even figure out how to count how many people there are, or what the unemployment rate is, but you people believe they can figure out unemployment+education levels? Also, even without relative weight numbers, do those percentages look like they match up with the actual unemployment rate that the government is copping to, of about 9%? You should already know that we are around 20% actual unemployment when you count everybody. But those ridiculously low numbers obviously do not conform to reality. They are generally using very old data and excluding “problem” groups that would ruin the percentages they want to report. Actually, I can take any experts statistics or testimony and just change it to whatever I want it to say, and have that hold up as legal evidence in court. When you don’t have to adhere to evidentiary rules, it becomes even easier to report whatever you want it to say. At least I have people actively looking to challenge what I do, who is challenging the government statistics and actually reviewing methodology, error, presentation, data set (length of time, scope, etc.) and reporting accuracy?

The major argument is another great lie perpetuated by the media and the government. We have more than enough science and math grads in the US…that nobody hires because it’s cheaper to hire an H1-B Visa applicant and then replace them after a 6 months to a year for another cheap applicant. India especially has enough top applicants to choose from, they have most of the top IT universities right now actually too. Science grads mostly get stuck in $30k post doc jobs for the rest of their lives, occasionally giving up and going to law school where they then glut the patent attorney market.

Obama and actually both the right and left enjoy perpetuating a myth of sending everyone to higher education so that they will have jobs. These jobs of course are expected to show up magically. In reality, all politicians figure if they tell you to go to school that’s at least 4 years where they don’t have to deliver anything. Incidentally, that’s about all they need.

I’m all for people looking at their own statistics and figuring things out on their own, but just make sure you are thinking critically and being very cynical and skeptical of data that is presented to you. Look at the biases of the people reporting the statistics and figure out what would force them to be accurate and provide the full truth. I can tell you that most people lie on the witness stand even though they take oaths and are theoretically threatened with jail time for lying. So ask yourself why a school, the media, or politicians would volunteer the correct information if it is contrary to their interests, without any threats to them.


#17

Because they have to becuase they in reality have our best intrests as public servants and would never screw the people over…

I couldn’t type that with a straight face.

Unemployment rates are actually higher than what they say. They only count the unemployed if they are receiving unemployment checks. A simple Google search would tell people this. But instead Justin Bieber’s new tattoo is more important than ones actual lively hood.

These Indian China kids coming here really piss me the fuck off. wTF is the point of me getting a specialized degree if you are going to import someone with shitty English to do a job I was should be doing, or are exporting that job outside of the country. Do these people think short term only? The parallelism between us and the ancient Athenians just before Macedon came and raped the fuck out of them is really scary.

the Athenians had a large empire and subjugated others to keep its lavish lifestyle up. During this time, the Athenians had time to come up with works of art and new philosophical and moral questions. For a moment they developed a very powerful empire and economy based on services of other city states. Eventually the city states which where key to Athenian lively hood revolted, and Athens bleed itself to death trying to keep these people under control. Then out of the blue, what was considered an inferior country, which had developed a capable army and greatly looked up to these Greek city states came and invaded. Because the Athenians had exhausted themselves trying to keep their empire intact, the Macedonians where quick to conquer all of the Greek city states which considered Macedon backwards.


#18

I thought I read somewhere that those unemployment numbers are skewed because post-college graduates within their first year or two out of school aren’t considered for “unemployment” status?


#19

I would go to law school if I had to do it all over again


#20

higher education its self isnt worthless, the price tag is unsustainable though.

We should have it like many European countries do, college is free or almost free.

Theres no excuse for it at this time.

In 20-30 years machines will be doing most manual labor, so if one does not have a higher education, its going to be difficult to find a job.