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My college experience was similar and around the same time (but I tacked on a biology PhD and post-doc, which delayed earning considerably). My impression is th
by biomcgary 3y ago
My college experience was similar and around the same time (but I tacked on a biology PhD and post-doc, which delayed earning considerably). My impression is that the cost of higher education has increased considerably over the past two decades relative to general inflation and expected income. Increased expense reduces lifetime ROI of education considerably and delays many milestones (e.g. purchase of first home).
- jonhohle 3y agoThe same things were being said in the 90s: college is too expensive, only wealthy families can afford it or you'll need to get a full ride scholarship (that's what I was guilted with during HS). You're right though, about increased tuition, and it's easy loans that cannot be discharged that are one of the major culprits, but living on campus at a public university costs as much as my private tuition plus room/board did 20 years ago. Inflation adjusted, it's 55% of what I paid and starting engineering salaries are 250% higher than when I graduated (it makes me a little sick to see what college hires make ;-) ). This isn't true for maybe 90% of the degrees a university offers. I would never suggest anyone take out a loan for a degree that wouldn't pay for itself with low risk. This includes degrees that are undervalued (teaching, for example).