Let’s say a year of college costs $30k for tuition. Let’s also say after year 1 you could make $35k/yr in a very entry level job, and that goes up $15k/yr. The true cost of the final 3 years of your degree is $90k tuition + $150k lost wages + 3 yrs work experience + interest.
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Am not American, and have never understood the system there. What justifies this cost? Why is college education so expensive? Do the "powers-that-be" not realize that they are pricing their own citizens out of the global employment market?
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Indeed, I saw this article in The Journal that is some more evidence of thishttps://www.wsj.com/articles/big-techs-hot-new-talent-incubator-community-college-1530277200 …
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You're right and here's an economic analysis over a working lifetime showing college is bad investment for more than half of the students that attend college. http://michaelrobertson.com/archive.php?minute_id=226 …
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Prices are dictated by supply and demand. If you want to lower prices your options are increase supply, decrease demand, or find and support a market disruptor like
@LambdaSchool -
Hopefully that doesn't come off condescending, didn't mean for it to.
End of conversation
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bring cost down? prevent the Feds from backing loans for every 17-18 year old who thinks they......feel.....like....going to collitch.
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One thing that would help is if college loans were zero interest. And the cost of books is outrageous. My daughter is in her 3rd year and will be paying back loans until she's in her 40's. She's majoring in education & administration so she's not going to be making big $
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The Guidance Counsellor model needs a makeover. High school students deserve to understand the costs and payoff of different education & career paths.
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Or you could copy countries that offer tax free government loans for university students (Australia) or others that offer it for free (Scandinavia). It is a uniquely American attitude to think that the market needs to fix education not the government.
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An educated population is a public good, better for the country. So I'm all for 1. government paying for public colleges so they're free to students. (K-20) 2. US gov paying off past student loans. Community recovers in ↑ contributions to society, ↑ taxes, ↑ resilience.
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Then on top of it, college runs a lot like healthcare. Charge as much as you can, then treat the customers with little or no attention to positive customer experience.
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What do you think of community colleges?
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