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Monday, May 16, 2011

If you are a sheep - go to college!

Perhaps college is not as good an investment as it used to be. We are producing more college grads than ever before. But more of them have degrees in Psychology and History and have big college debts and not the slightest chance of ever paying off those debts.

Is it time to rethink the entire college value proposition? As this article points out:
“Muller, 26, graduated from Kean University in Union, N.J., yesterday with a bachelor’s degree in communication. She is the first person in her family to graduate from college. Like many graduates, she's now faced with the larger worry of living back at home while also paying down vast amounts of debt. All along, money’s been a chronic source of anxiety. In order to finish, Muller took out more than $70,000 in student loans and has another $10,000 in credit card debt.” OK Muller is screwed. She believed the hype and drank the lemonade without any questions. This is the result.

”A study conducted by Twentysomething Inc., a consultant firm specializing in young adults, reports that 85 percent of this year’s graduating class will be forced to move back home. Meanwhile, 2011 graduates also face historic amounts of student loan debt -- or an average of $27,200 for graduates that borrowed money in order to finish school.”

If you are simply a sheep then you will be sheared.

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