Not a day goes by that we don’t have a conversation or hear a conversation about high tuition costs. So the question arises; Is college worth it? Most will say that depends on your major, the job market, tuition costs, and the university. A baffling thing for students heading to school and parents trying to figure out how to afford it, all the while wondering if the money paid will be worth it (also known as ROI or return on investment). Let’s talk about this, okay?
There was an interesting media article recently about College Rating published in The New York Times titled; “With website to research colleges, Obama ditches ranking system,” written by Michael D Shear on September 12, 2015, which read:
President Obama on Saturday abandoned his two-year effort to have the administration create a system that explicitly rates the quality of the nation’s colleges and universities, a plan bitterly opposed by the presidents of many of those institutions. The brainchild, announced by Mr. Obama with fanfare in 2013, the government would have assigned a ranking to all 7,000 higher education institutions in the country, with the goal of publicly shaming low-scoring schools that burden students with a high debt and low earning potential.
Can a website really tell you if your investment in college will generate a decent ROI for your blood, sweat and tears and the cash or economic bondage to borrow that money? Probably not, but the effort abandoned by the Obama Administration, in my opinion, was worse.
Personally, I see it as another ‘populist talking point’ to get the political support of the masses, I see it as another stupid idea to try to control and protect academic institutions and pretend to solve a problem that the government cannot solve, for example the rapid deployment of new technology and how that affects labor markets and thus student loan repayments at least a % of them which is not the real issue with just a symptom of rising costs, also caused by socialist thought.
In fact, I remember how Obama and company attacked the “for-profit college” industry and did it in a devious way. That didn’t solve anything, but instead caused fewer ways to get an education, thus supply and demand challenges, thus again higher prices. I’m surprised, oh dear no, as oftentimes socialists just don’t understand economics or reality, which is why today we have nearly $1.3 trillion in outstanding college debt with default rates approaching 50%. Just another bubble ready to burst I’m afraid, please think about this.
