> 3. Colleges continue to justify costs based on lifetime earnings delta of people with degrees. Sadly, this data is backwards-looking and not indicative of what today's students should expect.
Not only that, it's downright bullshit.
I remember seeing once a comparison. Non college degree average salary: let's say it's 30K. College degree: 40K. Instead of college, take those 4 years and at least $50K of educational expenses and invest in the S&P 500. Do nothing. Earn more over your lifetime that the more sophisticated 40K college graduate.
Or better yet, take that 50K, use the plethora of free online learning resources and become an entrepreneur. For a large portion of the population, college is simply not worth it.
of the 2.9 million "good jobs" (i.e. full-time, high paying with benefits) created since 2010, 2.8 million have gone to people with college degrees.
It fun to say that you don't need a degree to get a good, high-paying, satisfying job, and there are plenty of anecdotal examples to reference, but the data clearly indicate that the odds are not in your favor if you choose an alternative path, at least in the US. I suspect that software engineering and some related industries might be a little more degree-agnostic, but that's far from the norm.
What 50K? Are you telling me I could've applied for 50K in government-issued student loans and then turned around and spent that on a free online school and started a business?
Not only that, it's downright bullshit.
I remember seeing once a comparison. Non college degree average salary: let's say it's 30K. College degree: 40K. Instead of college, take those 4 years and at least $50K of educational expenses and invest in the S&P 500. Do nothing. Earn more over your lifetime that the more sophisticated 40K college graduate.
Or better yet, take that 50K, use the plethora of free online learning resources and become an entrepreneur. For a large portion of the population, college is simply not worth it.