About four years ago I blogged about the cost of a college education, private vs. public, and whether some college bound young people might be financially better off not to attend college. I followed up that link today looking at a 2008 update of the information. It contained information not in that first report (if you invest the money you would have spent on a child's education, the life time (40 years) average of earnings is higher than attending college, and a public school education is a better deal in life time earnings that a private school).
REEF » Everyone Shouldn’t Go To College
What the recession has done to this mix, I have no idea. The REEF website doesn't appear to be current.
Update: I found Michael Robertson who authored REEF material at another website. Robertson knows a bit about education and making money--he invented the MP3 player.
Tuesday, March 16, 2010
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7 comments:
hi friends .. I like this article very helpful for me,,,,
Murray sez:
Thank you so much REEF for pointing out that all people should not necessarily go to college and the cost, more often than not, out weighs the gains. Now I can quit banging my head against the wall every time someone informs me I would have gained financially if I had. Whew! I'll sure sleep good tonight.
The trick is, Mur, you or your parents had to have the foresight to invest it instead of paying out for board and room, books, tuition, travel, loan interest, etc. so you could buy a second home in Florida when you retired!
Exactly right, not everyone should go to college. If they are smart enough but don't have the money then they can win an academic scholarship or get loans, but this idea that every idiot has a "right" to a college education is exactly what has made a college degree just as meaningless as a high school diploma is. Liberals are complete idiots.
According to his research, students attending college beginning in 2007-2008 can expect a return on investment (ROI) of 0 to 4.73%. This is not a high yield. It is a low yield. Over time, and up and down, the stock market does much better.
Also the ROI varies--higher for Asian males, and black females than the others.
The author points out many flaws in the College Board report that claims such a high return on a college education--like the 20% drop out rate, that many take 6 years to finish, that job changes and unemployment are not factored in, that they only use tuition as the cost basis for college even though that's just a part of what a loan has to cover.
Hey Norma,
Your Article is very nice and useful, I like it very much.
Thanks !
:)
Student of Canadian college
Student at Canadian College: Your institution's web page is very nice, particularly the library's.
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