I have nothing against college, but man do we need to bring the costs down. Both the cost of tuition and the opportunity cost of what you could be learning on the job if you are in a classroom for a second more than makes sense.
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Your analysis is wrong on multiple levels. The most egregious is not factoring in future earning power of a degree over the next 35-40 years. It’s the only analysis that matters: the cumulative earning power, not some 4 year stretch.
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That’s implied in saying “the cost of the degree.” Will you make enough to offset that? Depends on what a degree is worth. I don’t have one and no one cares at all.
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You founded your company, got lucky (yes, luck, 90% of businesses fail in 5 years or less) and want to claim that not having a degree didn’t matter to get your current job. You are the exception, not the norm. You’re beating your chest based on your singular experience.
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I worked at high salaries for years before founding a company
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Next you’re going to tell me your employees get $15k raises every year.
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I see people hired literally every day at high salaries with no degree
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That’s not the point you were making. The avg worker with a degree makes $59124 where those with a hs diploma make $38376. Math tells me you’re wrong, by a lot, and the fact that you make this claim means you stand to benefit from pushing it
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On a society where most competent people go to college of course that’s true. But is it because of the degree or massive selection bias?
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these are very optimistic salary figures (+15k a year?!), and my tuition cost 5k a year (cal state), so, ymmv :shrug:
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0 experience to 1 yr experience is quite a jump!
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I think you should perhaps look for some empiricics here, You’re positing close to a fifty percent increase in wage after one year. That’s simply not realistic.
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...no I’m not, after three years
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I’ve been running numbers for our 1yr accelerated bs in nursing. It’s 3 semesters long in Oakland, San Mateo or Sacramento.
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Each semester is 25k in tuition. So 75k for the year. Since this is a 2nd Bachelors (undergrad) degree, students can only get from feds $12,500-$23,000 depending on the semester start (it’s a fed gov rule thing)
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Students have to have other financing to make this work. Private loans, 401k borrowing (shudder), savings, family. It’s hard to find the money for them if the student is not able to get funds from the private market.
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We have excellent job placement 90%. Excellent student scores on nursing licensure exams like middle to high 90%. We have a commitment to underserved students. Low discount rate on tuition.
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Who is "we"?
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Samuel Merritt University in Oakland.
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ISAs are very difficult without building around them from scratch
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Yes, I’ve come to that same conclusion. We’re still going to pursue an ISA option
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