Is the Cost of Paying for Higher Education Worth It?

6 Jun

I found the following article on the cost/value of higher education thought-provoking. The questions that are arising regarding the crippling debt incurred by college students is something to consider: “The cost of college in the past 30 years has gone up tenfold. Health care has only gone up sixfold, and inflation has only gone up threefold. Not only is it a scam, but the college presidents know it. That’s why they keep raising tuition.”

There are a number of different arguments circulating regarding the value of a college education. One is James Altucher” a New York–based venture capitalist and finance writer, has emerged through frequent media appearances as something of a poster boy, and his column “8 Alternatives to College” something of an essential text, for the anti-college crusade.”

Another is Peter Theil, the founder of PayPal in 1998, and 6 years later made his first “angel” investment in Facebook. He was prescient regarding social media, and also the housing bubble. “In higher education, he believes he has identified a third bubble, with all the hallmarks of a classic speculative frenzy— hyperinflated prices, investments by ignorant consumers funded largely by debt, and widespread faith in increasing returns.”

Read the article for a lively discussion of these issues and suggestions for alternatives to a 4 year university education. Personally, I feel the discussion is worth having, as too many of our youth are in debt to gain a liberal arts education, with no on the job training. Let’s open the discussion!

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