Higher Learning: Overpriced and Overrated?

     As a recent college graduate, the subject of the "true" value of higher education has become increasingly intriguing to me.  The first topic that needs to be addressed is the price of a higher education.  College tuition increases steadily each and every year.  Although prices raise each year, the education you receive never changes or increases.  In fact, most recently, as tuition rises we are seeing budget cuts, course lists shortened, atrocious scheduling options, and a shortage of teachers.  Tuition is one thing you can count on increasing steadily regardless of the state of the economy.  The question that remains is it worth it?  Will I recoup my investment? 

     The answer I have no choice to give at this point is maybe not.  How many of you know people, family, friends, even yourselves, accumulated staggering debts to pay for school.  How many people are still un-employed?  How many of you are working in jobs you hate or have no relation to your degree JUST to pay for the education you received.  The state of the economy leaves a very dry job market, riddled with jobs that require experience and simply prefer degrees.  How are you supposed to accumulate 3- 5 years of experience when you have 4-6 years of school to complete?  This brings me directly to the next point.  Lets say you would like to receive a degree for accounting.  It will take you four years of classes. At least one of these years will be spent on classes that have absolutely nothing to do with accounting, finance, or business in general.  Sure its nice to be well rounded but at what price.  One year of college ranges from $5,000-$50,000.  This leaves me no choice but to point out most schools are using prerequisites and course requirements as a way to make money.   Now I hate to reduce a college education strictly to an investment.  Higher learning is something to be proud of, and the more graduates we have the better off society is for sure.  However, at the end of the day college is still an investment, and one you are told you will recoup and make back in no time.  The investment in your future could be potentially crippling.  For Example: A $50,000 loan put on a thirty year repayment plan can quickly become a $250,000 investment by the time your loan/interest is paid in full. 
     I am certainly writing based on personal feelings and personal experiences. I feel that growing up we were all fed the idea that we go to college, get the job, make more money than we could spend and pay off our student loans.  I don't see that happening in the world today.  I'm sure there are many examples of students who finished college got a great job right out of school and I couldn't be happier for you.  I just don't think we see it enough.  If you do the math and divide college graduates by available entry level college graduate jobs.... Lots of grads are left in the dark questioning previous decisions and hoping for a turn around in the near future.  I am interested in your thoughts, feelings, questions and comments!


Phil

The Duke of Saucingham