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Monday, April 7, 2014

We are not against college

Here is what we have been saying for years: “We are not against college but question many of the long held assumptions about it. We think too many attend, too much is spent on it and that students are under the mistaken belief that all college degrees bestow the same benefits. And when students, parents and governments borrow recklessly to finance it, we have a huge problem.”

This article from the Economist GETS IT! YES!!

College can be valuable – at the right price and if one studies subjects that the market place demands and needs.

The market demands few college graduates with degrees in Gender Studies, Sociology, Psychology, English and History. But the market is demanding grads in Electrical Engineering, Petroleum Engineering, and Network Security.

This author is one of the few that makes three great points:

       1) Not all college education bestows the same benefits.
       2)  If one graduates with substantial student debt, the individual is frequently reducing her  opportunities rather than expanding them.
       3)  College grads on average have higher IQs than high school drop outs. So the figures that  compare the relative financial performance of the two groups should adjust for relative potential  and not attribute all the extra earnings to college. But the stats never do.

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1 comment:

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