Best of the Week
Most Popular
1. Stock Markets and the History Chart of the End of the World (With Presidential Cycles) - 28th Aug 20
2.Google, Apple, Amazon, Facebook... AI Tech Stocks Buying Levels and Valuations Q3 2020 - 31st Aug 20
3.The Inflation Mega-trend is Going Hyper! - 11th Sep 20
4.Is this the End of Capitalism? - 13th Sep 20
5.What's Driving Gold, Silver and What's Next? - 3rd Sep 20
6.QE4EVER! - 9th Sep 20
7.Gold Price Trend Forecast Analysis - Part1 - 7th Sep 20
8.The Fed May “Cause” The Next Stock Market Crash - 3rd Sep 20
9.Bitcoin Price Crash - You Will be Suprised What Happens Next - 7th Sep 20
10.NVIDIA Stock Price Soars on RTX 3000 Cornering the GPU Market for next 2 years! - 3rd Sep 20
Last 7 days
MUST WATCH Before You Waste Money on Buying A New PC Computer System - 27th Nov 20
Gold: Insurance for Prudent Investors, Precious Metals Reduce Risk & Preserve Wealth - 27th Nov 20
How To Spot The End Of An Excess Market Trend Phase - 27th Nov 20
Snow Falling Effect Christmas Lights Outdoor Projector Amazon Review - 27th Nov 20
4 Reasons Why You Shouldn't Put off Your Roof Repairs - 27th Nov 20
Further Clues Reveal Gold’s Weakness - 26th Nov 20
Fun Things to Do this Christmas - 26th Nov 20
Industries that Require Secure Messaging Apps - 26th Nov 20
Dow Stock Market Trend Analysis - 25th Nov 20
Amazon Black Friday Dell 32 Inch S3220DGF VA Curved Screen Gaming Monitor Bargain Deal! - 25th Nov 20
Biden the Silver Bull - 25th Nov 20
Inflation Warning to the Fed: Be Careful What You Wish For - 25th Nov 20
Financial Stocks Sector ETF Shows Unique Island Setup – What Next? - 25th Nov 20
Herd Immunity or Herd Insolvency: Which Will Affect Gold More? - 25th Nov 20
Stock Market SEASONAL TREND and ELECTION CYCLE - 24th Nov 20
Amazon Black Friday - Karcher K7 FC Pressure Washer Assembly and 1st Use - Is it Any Good? - 24th Nov 20
I Dislike Shallow People And Shallow Market Pullbacks - 24th Nov 20
Small Traders vs. Large Traders vs. Commercials: Who Is Right Most Often? - 24th Nov 20
10 Reasons You Should Trade With a Regulated Broker In UK - 24th Nov 20
Stock Market Elliott Wave Analysis - 23rd Nov 20
Evolution of the Fed - 23rd Nov 20
Gold and Silver Now and Then - A Comparison - 23rd Nov 20
Nasdaq NQ Has Stalled Above a 1.382 Fibonacci Expansion Range Three Times - 23rd Nov 20
Learn How To Trade Forex Successfully - 23rd Nov 20
Market 2020 vs 2016 and 2012 - 22nd Nov 20
Gold & Silver - Adapting Dynamic Learning Shows Possible Upside Price Rally - 22nd Nov 20
Stock Market Short-term Correction - 22nd Nov 20
Stock Market SPY/SPX Island Setups Warn Of A Potential Reversal In This Uptrend - 21st Nov 20
Why Budgies Make Great Pets for Kids - 21st Nov 20
How To Find The Best Dry Dog Food For Your Furry Best Friend?  - 21st Nov 20
The Key to a Successful LGBT Relationship is Matching by Preferences - 21st Nov 20
Stock Market Dow Long-term Trend Analysis - 20th Nov 20
Margin: How Stock Market Investors Are "Reaching for the Stars" - 20th Nov 20
World’s Largest Free-Trade Pact Inspiration for Global Economic Recovery - 20th Nov 20
Dating Sites Break all the Stereotypes About Distance - 20th Nov 20
THE STOCK MARKET BIG PICTURE - Video - 19th Nov 20
Reasons why Bitcoin is Treading at it's Highest Level Since 2017 and a Warning - 19th Nov 20
Media Celebrates after Trump’s Pro-Gold Fed Nominee Gets Blocked - 19th Nov 20
DJIA Short-term Stock Market Technical Trend Analysis - 19th Nov 20
Demoncracy Ushers in the Flu World Order How to Survive and Profit From What Is Coming - 19th Nov 20
US Bond Market: "When Investors Should Worry" - 18th Nov 20
Gold Remains the Best Pandemic Insurance - 18th Nov 20
GPU Fan Not Spinning FIX - How to Easily Extend the Life of Your Gaming PC System - 18th Nov 20
Dow Jones E-Mini Futures Tag 30k Twice – Setting Up Stock Market Double Top - 18th Nov 20
Edge Computing Is Leading the Next Great Tech Revolution - 18th Nov 20
This Chart Signals When Gold Stocks Will Explode - 17th Nov 20
Gold Price Momentous ally From 2000 Compared To SPY Stock Market and Nasdaq - 17th Nov 20
Creating Marketing Campaigns Using the Freedom of Information Act - 17th Nov 20
ILLEGITIMATE PRESIDENT - 17th Nov 20
Stock Market Uptrend in Process - 17th Nov 20
How My Friend Made $128,000 Investing in Stocks Without Knowing It - 16th Nov 20
Free-spending Biden and/or continued Fed stimulus will hike Gold prices - 16th Nov 20
Top Cheap Budgie Toys - Every Budgie Owner Should Have These Safe Bird Toys! - 16th Nov 20
Line Up For Your Jab to get your Covaids Freedom Pass and a 5% Work From Home Tax - 16th Nov 20
You May Have Overlooked These “Sleeper” Precious Metals - 16th Nov 20
Demystifying interesting facts about online Casinos - 16th Nov 20
What's Ahead for the Gold Market? - 15th Nov 20
Gold’s Momentous Rally From 2000 Compared To Stock Market SPY & QQQ - 15th Nov 20
Overclockers UK Quality of Custom Gaming System Build - OEM Windows Sticker? - 15th Nov 20
UK GCSE Exams 2021 CANCELLED! Grades Based on Mock Exams and Teacher Assessments - 15th Nov 20

Market Oracle FREE Newsletter

How to Get Rich Investing in Stocks by Riding the Electron Wave

College Education Debt and Earnings Economics

Politics / Student Finances Mar 14, 2012 - 08:03 AM GMT

By: BATR

Politics

Best Financial Markets Analysis ArticleFor previous generations, the dream of a college education for their children was a primary motivation. Gaining access to the teachings of higher learning is certainly a laudable objective. While this goal still holds true, there is a systemic disconnect from attending institutions that cost a king’s ransom and having marketable skills to earn a generous income in the post industrial economy. When government employment becomes the most sought after occupation, the economic future of the country sinks into deep decline. The old correlation with the higher your education, the greater your income, is no more.


Proof for such a conclusion is provided by the following list, Shocking Facts About Student Debt And The Great College Education Scam.

1) Americans now owe more than $875 billion on student loans, which is more than the total amount that Americans owe on their credit cards

2) Since 1982, the cost of medical care in the United States has gone up over 200% but that is nothing compared to the cost of college tuition which has gone up by more than 400%

3) The unemployment rate for college graduates under the age of 25 is over 9%

4) There are about two million recent college graduates that are currently unemployed

5) There are about two million recent college graduates that are currently unemployed

6) In the United States today, 317,000 waiters and waitresses have college degrees

7) The Project on Student Debt estimates that 206,000 Americans graduated from college with more than $40,000 in student loan debt during 2008

8) In the United States today, 24.5 percent of all retail sales persons have a college degree

9) Total student loan debt in the United States is now increasing at a rate of approximately $2,853.88 per second

10) Total student loan debt in the United States is now increasing at a rate of approximately $2,853.88 per second

11) There are 365,000 cashiers in the United States today that have college degrees

12) Starting salaries for college graduates across the United States are down in 2010

In 1992, there were 5.1 million "underemployed" college graduates in the United States. In 2008, there were 17 million "underemployed" college graduates in the United States

13) In the United States today, over 18,000 parking lot attendants have college degrees

14) Federal statistics reveal that only 36 percent of the full-time students who began college in 2001 received a bachelor's degree within four years

15) According to a recent survey by Twentysomething Inc., a staggering 85 percent of college seniors planned to move back home after graduation last May

The incurring debt that saddles students is unsustainable. The Business Insider reports in The $100 Billion Student Debt Bubble May Finally Blow, "As it stands, no matter how deep borrowers find themselves buried in student loan debt, they can't discharge it in bankruptcy court – all because it doesn't qualify as an "undue hardship." As the economy struggles and minimum wage employment becomes the norm, how can attending college retain its glow?

The cost of college is not uniform. The College Board reports,

"In 2011-12, 44 percent of all full-time undergraduate college students attend a four-year college that has published charges of less than $9,000 per year for tuition and fees.

At the other end of the spectrum, approximately 28 percent of full-time private nonprofit four-year college students are enrolled in institutions charging $36,000 or more yearly in tuition and fees."

The value of attending a prestigious private institution especially has a real harsh impact, if student loans are necessary to pay for that experience. "College tuition increases about 8 percent annually or doubles about every nine years, according to FinAid.org." The continual increase in college costs is the persistent dilemma that challenges the ultimate benefit of attending university.

America has become a society for elites. The embodiment of success, sold under the mantra of achieving degrees of higher learning, no longer works. For all the "so called" professionals that act as gatekeepers for the establishment, the rewards from the system flow, as long as their loyalty, to the corporatist institutions remains. However, for all the ordinary college graduates that seek a better life through hard work, the prospect of entering the inner circles of the "golden parachute" is elusive.

Earning your way to the top may motivate the most competitive of type A personalities, but the survival of the most ruthless is no standard for a free society. The wisdom that college is supposed to share is not valued much in global business.

Some will conclude that only practical disciplines like engineering, accounting or medicine have pragmatic worth. Nevertheless, the systematic dismantling of the domestic economy is intrinsically responsible for the lost opportunities that can benefit from a work force of college graduates. Look no further than to the study of law for a primary reason for the sharp delineation in the lower ing of living standards.

The economics of college do not work for most students because the costs of the educational electives are void of entrepreneurial content. Transacting business commerce is still the fundamental activity in earning a living. As with any economic deal, both parties need to come away from the undertaking with a sense of satisfaction. Where is the gratification from flipping burgers in order to make your student loan payment?

The knowledge gained from the university exposure of classic studies is invaluable in the life of any adult. However, the cruel costs many colleges charge for that experience, have more to do with inflated institutional egos, than teaching developing intellectual minds.

As long as college graduates are prime victims of declining middle class prospects, the indebtedness of tuition bills will burden their futures. The solution is to grow a domestic economy based upon independence in manufacturing and self-sufficiency. Attending college on loans is a very bad decision. The money spent for a useless degree is better spent on buying or starting a business.

James Hall

Discuss or comment about this essay on the BATR Forum

http://www.batr.org

"Many seek to become a Syndicated Columnist, while the few strive to be a Vindicated Publisher"

© 2012 Copyright BATR - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules