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President of $50,000+ Per Year College Recommends Student Debt

Written by Gary North on October 18, 2012

Never ask a barber if you need a haircut. Never ask a college president if student debt is a good idea.

I was amused by a recent article in MarketWatch, a major news site in the financial world. It was written by the president of a private college that charges $44,000 a year in tuition. Then there are incidentals that bring the total to about $55,000. She calls student debt “an investment.” It’s a good “investment.”

In contrast, I recommend spending no more than $15,000, total, on a college degree earned by an accredited college.

That would pay for 10 weeks at her college.

Do you think that a total payment if $220,000 (if all costs are locked in for four years — ha!) will produce 14  time the lifetime income of a degree earned my way? How about a degree in sociology? Or women’s studies? In this job market?

Parents are really silly. They fork over $200,000+ to some obscure college they have never heard of, and they think that’s money well spent.

But don’t take my word for it. Read the other side. See if her argument makes sense.

Click the link.

Continue Reading on www.marketwatch.com

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2 thoughts on “President of $50,000+ Per Year College Recommends Student Debt

  1. Texas Chris says:

    I made the mistake of "investing" 6 years in the Army, only to be told I didn't have any skill the private sector could use. The only, ONLY positive was that the US Taxpayer was then on the hook for my two degrees. Than you, citizen.

    That being said, I have advised my son (now 13) that he will be required to get a two-year associates degree (of his choice), and then begin work. If he then decides to further his education, I will pay for the related Bachelors degree. Even a Masters, if he so chooses. But he will not sign a loan, will not have a credit card, and will pay cash for his car (if he doesn't want to drive the one I already have for him). He will be debt-free, he will know the value of a good job and hard work, and he will not be exposed to the military (beyond what I will teach him myself).

    If a person does not have the support system my son has, then online college, trade school, CLEP, and scholarships are the way to go. As an employer, I do not so much care where you went, as I do what you learned, and if you'll actually show up for work.

  2. Hmm. How does that old saying go? 80% of success is showing up on time?