Not a day goes by when I don’t have a conversation or hear a conversation about high tuition costs. Then the question emerges; Is College Worth it? Most will say, that depends on your major, the job market, the tuition costs, and the college. A perplexing thing for students heading off to school and parents trying to figure out how on Earth to pay for it, all the while wondering if the money paid will be worth the cost (aka: ROI or Return on Investment). Let’s talk about this shall we?
There was an interesting piece in the media recently about College Rating published in The New York Times titled; “With Website to Research Colleges, Obama Abandons Ranking System” written by Michael D Shear on September 12, 2015 which stated:
“President Obama on Saturday abandoned his two-year effort to have the government create a system that explicitly rates the quality of the nation’s colleges and universities, a plan that was bitterly opposed by presidents at many of those institutions. Under the original idea, announced by Mr. Obama with fanfare in 2013, all of the nation’s 7,000 institutions of higher education would have been assigned a ranking by the government, with the aim of publicly shaming low-rated schools that saddle students with high debt and poor earning potential.”
Can a website really tell you if your college investment will garner a decent ROI for your blood, sweat, and tears, and cold hard cash or economic enslavement to borrow that money? Probably not, but the abandoned effort by the Obama Administration in my view was worse.
Personally, I see it as just another ‘populist talking point’ to garner political support from the masses, I see it as yet another stupid idea to try to control and protect academic institutions and to pretend to solve a problem that government cannot solve, for instance the rapid deployment of new technologies, and how that affects job markets and thus, student loan paybacks at least a % of them which isn’t the real problem with just a symptom of ever rising costs, also caused by socialist thinking.
In fact, I remember how the Obama and Company attacked the “For-Profit-Colleges” Industry and did so in a devious manner. That didn’t solve anything rather it caused fewer ways to get an education thus, supply and demand challenges – thus, again higher prices. Am I surprised, oh heavens no, as so often socialists just do not understand economics or reality, which is why today we have nearly $1.3 Trillion in outstanding college debt with default rates nearing 50%. Just another bubble ready to pop I fear, please think on this.