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College in the USA is an economic plague on young people. This most certainly can't be as bad.

thehappypm 6y ago
Except that’s completely untrue. College degrees are well worth the investment — the earning potential increases of having a college degree vastly dwarf tuition costs. When people are young, debt is a problem, but those same people continue to see (exponential) income growth over the course of their careers and eventually beat the debt, and then some. Folks without degrees struggle with income growth.
- hamandcheese 6y ago
  This is just... not true? At least not among anyone I’ve ever known who didn’t go to school for CS, law, or med school.
  - thehappypm 6y ago
    study backing me up: https://libertystreeteconomics.newyorkfed.org/2019/06/despite-rising-costs-college-is-still-a-good-investment.html https://libertystreeteconomics.newyorkfed.org/2019/06/despit...
- WarOnPrivacy 6y ago
  This would be a more persuasive argument if graduates weren't faced with an entire horizon of corporations, that aren't very interested in candidates w/o job experience.
- aaxxaab 6y ago
  Some college degrees are worth the investment. The productization of college degrees being offered by second-rate institutions has created a race to the bottom. I see many young people graduating with little in the way of employable skills with (usually non-STEM) degrees that are merely a piece of paper that they paid tens or maybe even hundreds of thousands of dollars for. I was one of those people. It took me years of grinding away at entry level jobs and self-learning in my spare time to create income growth. When I look back, I wonder why even have gone to school at all? All the skills I learned were on the job or were through knowledge I knew I needed to learn to get to the next level in my career. Could I have made better choices with my degree? Sure. If I could do it over, I would. The common narrative is what you have said above, any Bachelors degree == good. I think the reality is much different for many of us.
- Jimmc414 6y ago
  Are you basing this on your experience or the current market realities?
  - thehappypm 6y ago
    Study: https://libertystreeteconomics.newyorkfed.org/2019/06/despite-rising-costs-college-is-still-a-good-investment.html https://libertystreeteconomics.newyorkfed.org/2019/06/despit...
twblalock 6y ago
The average student loan debt for a new grad is about $33k, and the median is about $17k. $33k is a little bit less than the average price of a new car sold in the United States. It sucks to owe money after college, but it is by no means a plague. It's a burden that many adults take on willingly each year just for a new car -- surely 4 years of education is worth as much money as a new Toyota Camry with leather seats. On top of that, there are a lot of studies that show that college grads have better health outcomes throughout their lives.

Except that’s completely untrue. College degrees are well worth the investment — the earning potential increases of having a college degree vastly dwarf tuition costs. When people are young, debt is a problem, but those same people continue to see (exponential) income growth over the course of their careers and eventually beat the debt, and then some. Folks without degrees struggle with income growth.

hamandcheese 6y ago
This is just... not true? At least not among anyone I’ve ever known who didn’t go to school for CS, law, or med school.
- thehappypm 6y ago
  study backing me up: https://libertystreeteconomics.newyorkfed.org/2019/06/despite-rising-costs-college-is-still-a-good-investment.html https://libertystreeteconomics.newyorkfed.org/2019/06/despit...
WarOnPrivacy 6y ago
This would be a more persuasive argument if graduates weren't faced with an entire horizon of corporations, that aren't very interested in candidates w/o job experience.
aaxxaab 6y ago
Some college degrees are worth the investment. The productization of college degrees being offered by second-rate institutions has created a race to the bottom. I see many young people graduating with little in the way of employable skills with (usually non-STEM) degrees that are merely a piece of paper that they paid tens or maybe even hundreds of thousands of dollars for. I was one of those people. It took me years of grinding away at entry level jobs and self-learning in my spare time to create income growth. When I look back, I wonder why even have gone to school at all? All the skills I learned were on the job or were through knowledge I knew I needed to learn to get to the next level in my career. Could I have made better choices with my degree? Sure. If I could do it over, I would. The common narrative is what you have said above, any Bachelors degree == good. I think the reality is much different for many of us.
Jimmc414 6y ago
Are you basing this on your experience or the current market realities?
- thehappypm 6y ago
  Study: https://libertystreeteconomics.newyorkfed.org/2019/06/despite-rising-costs-college-is-still-a-good-investment.html https://libertystreeteconomics.newyorkfed.org/2019/06/despit...

twblalock 6y ago

The average student loan debt for a new grad is about $33k, and the median is about $17k. $33k is a little bit less than the average price of a new car sold in the United States. It sucks to owe money after college, but it is by no means a plague. It's a burden that many adults take on willingly each year just for a new car -- surely 4 years of education is worth as much money as a new Toyota Camry with leather seats. On top of that, there are a lot of studies that show that college grads have better health outcomes throughout their lives.