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The thing that kills me about Thiel's critics is how much they ignore the risk that going to college poses. obviously it can be done at alot of different price
by pitt1980 12y ago
The thing that kills me about Thiel's critics is how much they ignore the risk that going to college poses.
obviously it can be done at alot of different price points, but Vivek Wadhwa teaches at Duke and Stanford, what sort of career outcome ROI do you need to justify attending those school if you're not attending at a heavily discounted price?
what percentage of grads does Mr Wadwa suppose achieves those career outcomes? especially if they're not a STEM major?
espcially considering that that debt typically isn't dischargeable?
depending on what sort of debt burden you're looking at, taking that on to attend college seems far riskier, if nothing else, you've locked yourself into a game of high paying/ high stress career or bust,
which seems silly to lock yourself into at 18, or at least, highly risky
- stegosaurus 12y agoThis is something I find quite odd about US tuition. In the UK tuition fees are rather high now (though not quite US levels). But they are repaid, at a 'marginal tax rate', only if your income is above a certain level (17K or 21K at present. For comparison minimum wage full time is roughly 13.5K. So if you take on tuition debt, and then never secure highly paid work, nothing happens. If you decide to live in your car, you can, the debt gets discharged. From what I know about the US system it seems as if repayments just continue no matter what. Am I missing something? It seems like serfdom baked in to the education system.
- pitt1980 12y agothere are some debt replayment programs for low earners in the US as well, but student loan repayment will be a serious drag on any attempt to build wealth for most people who take out loans I'm of the opinion that most people don't have a good grasp on what the marginal difference in outcome needs to be to justify taking on student debt