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Thread: Federal Reserve Warns That "College May Not Pay Off for Everyone"

  1. #31
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    Re: Federal Reserve Warns That "College May Not Pay Off for Everyone"

    Quote Originally Posted by ludin View Post
    it doesn't matter what kind of camera or how expensive the camera is if you don't know how to use it.
    i have seen some of those high end camera's they have more options and more settings than i even care to know about or how to operate.

    however someone with a photography degree would or should know how to use them.
    Suit yourself. I don't think I have ever asked a professional photographer what degree he had when I have hired one.
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  2. #32
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    Re: Federal Reserve Warns That "College May Not Pay Off for Everyone"

    Quote Originally Posted by ludin View Post
    I really wish that someone would look at the degree's some of these kids are getting and what fields of study they are going into.

    Someone that goes into a hard major such as
    science, math, engineering, computer science
    etc ... is not going to have a hard time finding a job or getting to the next level.

    if you go into the soft majors like socialolgy or liberal arts or women studies or some other off beat path degree then yea you are going to have a hard time landing a job and making good money.

    they really need to look at student majors instead of just general based assumptions.

    there are some degree's that are going to pay off more than others.
    I have a BA in econ and MA in accounting, so I obviously took that advice. But the problem with that as a general rule is you might as well say, "People with math and technical skills in the top 20% or so of the college population are in high demand." You've written off a bunch of students before they get started.

    Not sure what the answer is, but it's too bad that the trend is to consider college as a kind of trade school, where students pay $10s of thousands for their own training on the front end and then hope the training they paid for is in demand by employers who need that type of skills.

  3. #33
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    Re: Federal Reserve Warns That "College May Not Pay Off for Everyone"

    Quote Originally Posted by DA60 View Post
    'College May Not Pay Off for Everyone

    Jaison R. Abel and Richard Deitz

    In our recent Current Issues article and blog post on the value of a college degree, we showed that the economic benefits of a bachelor’s degree still far outweigh the costs. However, this does not mean that college is a good investment for everyone. Our work, like the work of many others who come to a similar conclusion, is based in large part on the empirical observation that the average wages of college graduates are significantly higher than the average wages of those with only a high school diploma. However, not all college students come from Lake Wobegon, where “all of the children are above average.” In this post, we show that a good number of college graduates earn wages that are not materially different from those of the typical worker with just a high school diploma. This suggests that, at least from an economic perspective, college may not pay off for a significant number of people.'




    http://libertystreeteconomics.typepa...5dc1970b-800wi


    So, according to the above, if you're in the bottom 25 percentile of college students, financially speaking, college will do you more harm then good (virtually the same income plus college costs/debt).
    Education is highly important, even if it doesn't net you more money.
    You know the time is right to take control, we gotta take offense against the status quo

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    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

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