College Debts

A Four Year College Education Is Worth $1 Million in Lifetime Income!

Ronald 3 Comments

It is clear that college debt is a massive problem, and Senator Elizabeth Warren of Massachusetts is promoting a plan to make interest rates manageable, as if college graduates and students cannot buy homes, cars, have children, etc, then the future American economy, as well as their own futures, is gloomy.

However, despite this reality, new studies demonstrate that a four year college degree leads to a difference, in financial terms, of $1 million over a lifetime, so assuming a 40 year career, that is $25,000 more per year over a lifetime!

That is not taking into account when one has a professional or graduate training, where the difference in income is massive!

The point is that those who say forget a college education, are making a great mistake, not thinking in the long run, and also forgetting that education in itself opens up one’s mind; improves one’s life; makes for a more literate, educated society; and promotes tolerance and open mindedness!

So the goal should still be for any citizen to get the most education he or she is capable of, even if that education is not utilized directly at their work. The quality of life itself is enough reason for more education, not less!

The Importance Of Higher Education Over A Lifetime Worth The Investment!

Ronald 2 Comments

Propaganda has been going around, promoted by conservatives and Republicans, that higher education is not worth the investment, that many students end up with a debt that will take many years to pay off, so that, instead, it is better to avoid college education. Their goal, ultimately, is to promote ignorance and apathy among the masses, so as to advance their agenda of impoverishing the middle class and the poor!

Yes, college debt is a major problem, and the interest rates charged are ridiculous, and Senator Elizabeth Warren of Massachusetts wants to promote legislation to lower rates, stating that an investment in the long term future should not become victim of greedy lenders!

While it is true that many college and university graduates cannot find work in their chosen field, and that it has become particularly difficult for recent college students to find appropriate work, one must think in the long run, not the short run, and the evidence is clear that a college education, over a lifetime, pays dividends in higher pay, a better lifestyle, and a much more enlightened citizenry!

College graduates on the average make at least double the income of non college graduates, and over a lifetime, about a half million dollars is lost if a person has not attended and graduated a four year degree.

Also, the level of satisfaction at work, and the knowledge base of a college graduate, is far greater than a non college graduate. A four year college degree is still the best ticket to the middle class for anyone who is struggling to make ends meet!

Debate Over Value Of College Education Rages!

Ronald 1 Comment

This is a difficult year for graduates of colleges and universities all across America, with the high unemployment rate, and arguably the worst economic outlook that we have seen in many decades.

Not only are college graduates faced with a daunting challenge to find work that is relevant to their degrees. It is also the issue of finding any work at all.

But additionally, there is the growing debt faced by college graduates and graduate students, which can be the equivalent of a mortgage on a house, and set back the future of a graduate, and even more of couples who wish to marry, but face a dual debt of both to pay off, making it hard to see a future in the middle class.

So many have speculated that a college degree is not worth it, that learning a skilled trade is better, and that the value of a college education is overrated.

The answer to these assertions is to state that it is a terrible burden that college graduates face, but in the long run, it has been shown that they do earn higher salaries and have greater satisfaction in their work lives.

Additionally, having a college education allows someone to learn lots of things that expand one’s horizons, create new interests and hobbies, which are important for a full life.

Socially, one learns how to analyze, evaluate, debate, solve problems, and learn how to disagree agreeably during a college experience.

Having an education exposes people to others who are different and makes one more tolerant and open minded, not so quick to pass judgment based on hysteria or emotion.

Education is the way to promote a free society, and democracy, and fulfills the Jeffersonian idea of an America where over time, social and economic mobility are possible.

It is hard to imagine anyone who has been exposed to college who would argue that he or she gained nothing from the experience, and there are many intangibles that cannot be seen or understood at the time, but enrich our lives long term.

So to tell a young person, or even an older person, NOT to pursue higher education, is a fallacy and a fraud that undermines the long term future of individuals and American society!