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

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

    '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).

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

    I agree.

    My Sister in Law for example, went to College and indebted herself to the tune of nearly 80 thousand dollars so she could walk out of their with a uselss Liberal Arts degree.

    She's unemployable ( well maybe she could be a barrista ) and she wasted 4 years of her life

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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).
    So.... can we then assume that the roughly half of students who fail to graduate at all are then left off in a in a similar, or worse situation?

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

    the basic stem degrees will still make you a decent living MOST of the time

    other degrees will get you jobs in sales, or maybe in your field

    spending 80k to get a degree in sociology or history is absolutely freaking nuts

    every year, the university of missouri graduates more and more people with journalism degrees

    there arent enough jobs in the total field to give people jobs who already had degrees, much less the new graduates

    yet....we continue on the merry-go-round

    parents need to be more active....and kids need to be aware of what college can and cant do

    it may be your dream field.....just be aware that dream could soon be a nightmare
    “Most of the shadows of this life are caused by standing in one's own sunshine.”

    Ralph Waldo Emerson

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

    Quote Originally Posted by cpwill View Post
    So.... can we then assume that the roughly half of students who [i]fail to graduate at all
    Failing to graduate from WHAT LEVEL?
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    He didn't say it didn't make sense. He said it is complete nonsense.

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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).
    Sorry, forgot to include the link

    Liberty Street Economics

    Federal Reserve Warns That "College May Not Pay Off for Everyone" | Zero Hedge

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

    I don't know where people get the notion that just because they have a college degree that somehow means they will land an awesome job right away. If you get an education in a field with limited to no demand, get ready for a lot of disappointment.
    "I believe in a Spinoza's God who reveals himself in the harmony of all that exists, but not in a God who concerns himself with the fate and actions of human beings."

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

    Quote Originally Posted by Moon View Post
    I don't know where people get the notion that just because they have a college degree that somehow means they will land an awesome job right away. If you get an education in a field with limited to no demand, get ready for a lot of disappointment.
    Massive marketing campaigns on part of universities?
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    Re: Federal Reserve Warns That "College May Not Pay Off for Everyone"

    College is not about the career of the student, it is a for profit enterprise. The student loan is a revenue stream for somebody else, which is why they are very difficult to dismiss. If you could easily dump them, the risk would be to high and investors wouldn't provide them. Student loans are the next toxic mortgages.

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

    Quote Originally Posted by Deuce View Post
    Massive marketing campaigns on part of universities?
    In addition to simple and subtle indoctrination. I recall as a young lad being told, "do your school work so you get into college or you'll have to be a "labor type guys of the day."

    Funny, the few millionaires I know barely made it out of HS.

    Problem is simply that most didn't read the fine print. A degree is great, if its the right one. There are plenty of fields where a bachelors can get you started at near 6 figures. Petroleum Engineering comes to mind. Just about anything in science and engineering will get you going in eliminating college debt.

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