Not much of a surprise to many, all colleges in 49 out of all 50 states got a big "F" for lack of affordability. The only state to pass was California with a pathetic C-. One of the cogs in the current financial/economic meltdown is indeed the ridiculously priced college education. There is a serious problem when the cost of "higher-education" is practically a mortgage without a house. My previous posts about college shows that I'm not too fond of the terrible ROI and over-exaggeration of college's importance in our society but there is many good that a college education can do. That potential is completely shattered by the same greed that
realtors and banks had over the past decade in which has absolutely decimated our economy. The blatant theft done by the housing and
financial industry has only
crept up over the past 30 years and of course rushed on up in the past 5 years; but college education's
thievery has been in a constant grow for over 80 years.
Many news stations have been reporting this and there are many numbers that are going around but this can be certain; the pricing of homes, oil, electricity and college education MUST drop to
accommodate the average working
salary or no amount of bailouts will be enough to fix the economy
because the
cause of it, seen right here is just simply
pampered by bailouts.
Labels: college, economy
posted by princetrunks @ 7:41 AM
I know, yet another post about college but I simply had to put this out. Looks like the country's financial issue stems alot more into the whole University-to-Cubical-Slave dogma then even I thought.
Check out this article just posted by BusinessWeek. In it they show that colleges and alumni associations get paid HUGE money by banks if the they sell student contact info to them for of course credit card applications and student loans. It continues to amaze me how we continue to throw our kids (and our wallets) into universities like sheep to the slaughter (as seen in the articles lovely pics shown here).
As stated in my previous post about how worthless a college education is now and the sort-of hidden motives by colleges; this article just shows that this country's lack of money stems right at that focal point. $400K homes and the ever raise in the cost of living wouldn't have fallen to this economic depression we are in if people were taught the truth that the best point of wealth is not to rot in a cubical of a job (jackass of boss) all their life but instead be their own boss down the road with a job as a buffer. I did post a length comment on this story under the name Chuck G. of course, so if you want to add on to this here or on BusinessWeek...be my guest. The picture below shows the amount of money some universities get. Its absolutely sickening.
-Pictures are illustrated by
J. Alex Stamos and couldn't be any truer.
Labels: college, money
Back in March of 2007,
U.S. News created a headliner that I was waiting for a while to see. The topic, Is College Worth It? In it, they finally questioned the multi thousands of dollars it takes to get a degree in a shaky and simply pathetic job market. (This post might upset many parents and generation X'ers but the question had to be asked and as of this posting date...it must be addressed even more with the state of the economy.)
College many years ago was originally meant to serve as an extra curricular in life's path. It was for people who wanted to become scholarly and to help progress the movement of human knowledge, science and technology. The same holds true today with many colleges doing just that but their M.O. sure has changed. From Kindergarten to 12th Grade, kids are wired with the fantasy that in order to be successful in life, they need to know what "job" they need to get and they need to work hard for college to get that job.
Frankly, colleges today and the whole school system is nothing but a factory for cubical slaves and dynamically changing resumes. Many kids are driven into the notion that if they go through college, they will get the so-called "good-job" and make tons more money than their non-graduated class-mates. Granted many people who don't go to college usually set for low-end jobs that barely go over $30K a year while the graduates will make it to a job paying $60K-150K a year, whether that job will last in today's market is another story but lets give them the benefit of the doubt.
This looks very good for college if you only take that info into notion, which many kids are cornered into believing, hence they feel that their $60K investment for $60K a year or more is really worth it.
Lets look though at the riches people in the world; Bill Gates, Michale Dell, Donald Trump, Warren Buffet, etc. They must have triple Ph D's based on what college teaches, right? Wrong! Most of the richest, most successful people in the world never went to or graduated college and not one of them has a job! The thing is the topic that is not really mentioned at all in school is being in business for yourself. Kids in school are taught that you can make it in a business but its more of a lottery chance of winning in that field, or so they say.
What about business colleges? Usually business ownership is not mentioned all too much there, too. Most of the time business majors fall into the trap of becoming business "managers" FOR a company, but never the actual OWNER of the company.
One thing you are taught in business school or just by simple common sense that doesn't require a degree, is the topic of ROI (Return On Investment). With today's job market the ROI is not in college's favor at all. Why pay $60K and 4+ years of school work to get a degree, get a job and then watch that job fall no matter your position? No business owner in their right mind would dare such a risky investment. It's simply not worth it! But... if you do good in school and get lots of scholarships, college would be a great choice still because of the networking potential for your own eventual company and the lessened financial stress. It would then let you start off in a much better place than others but please don't sell out to a job.
Working for someone is extremely limited and many young kids and teens see the stresses having a job has done to their families. The internet has made it much easier to run your own company while at work. Also, if you are a business owner making $500K a year and with time to spare the difference between a ditch digger making $30K a year and a computer consultant making $80k/year is 3 weeks pay!
I'll use my example: I graduated college as a Computer Science major in New York. I upgraded my job from an ice cream scooper at Friendly's to a programmer and web master at a large photography outlet (would have been a big company in the city but those positions where outsourced to India while in college.)
On Long Island, a $40K salary won't even get you out of your birth house. As of today I run an anime and video game business and in one week's time I make 2x-3x my job's income a week in only two days work, not 40 hours with 10 hours wasting expensive gas with the rest of the masses. I also work with a ::gasp:: network marketing company that will eventually build more residuals than even my conventional business will. Did it take a college degree to do these business venture?...nope. My anime website turned business was originally made in my 12th grade web design class I took to pass the time since I was technically already graduated at the end of 11th grade. My job and my businesses don't even deal with a single thing I was taught in college. So to be blunt, college was a money-trap scam... for me.
Why isn't this talked about much, why is it taboo?There are a few reasons.
First reason is that college professors can't teach what they don't know. Ever heard the statement 'A' students teach 'B' students who work for 'C' students.? Sad but it's mostly true. College professors for the most part teach out of theory and not experience. Yes, some were in the field but they most likely are not anymore and they used teaching as a fall-back. They don't know how to be successful (financially- and-time-for-their-family-speaking) so how in the world could they teach us?
Second reason this isn't mentioned. Well, how do you think many schools are payed (outside of tuition)...state and federal grants from tax payers. Who pays the most to Uncle Scam...I mean Sam? Employees do. Yes, a business owner will pay tons in taxes too, but the US constitution has benefits for people who run their own company. Why?, it creates jobs and is the only way to restore any economy. People who don't understand it call them "loopholes" for the rich but any person in the US can access them, rich or poor. Letting out such knowledge in high school and college will lower their pay both from taxes and tuition from all the entrepreneurs bailing out of the college scene for a better chance at life.
Third reason is that it unfortunately has become a status symbol for parents to have their kids in college. They love to brag to their friends and their neighbors about their kids like they do their highly pesticided lawn. This has caused a generation or two of parents who force their kids into a college degree that really isn't in the best interest of the kids. Observe the multitude of students attending Suffolk Community College near my house with Liberal Arts majors and you'll see this in action. Yes, its great to brag about Jeff's wonderful degree he got in law but he sells insurance during the day and bar tends at night to hopefully pay the college debt.
As a parent, I'd be upset they wasted their time and money. When my father left his job to run his own automotive business from home, his family was shocked and asked him stupid questions like "You should have a job and make some real money." or, "Is it legal what you are doing?" His parents lost their bragging rights to the neighbors but my father was able to run a business from home that he could support a stay-at-home wife with 8 kids and no mortgage...on Long Island! Those are worthy of bragging rights!
Basically you all have gotten my views on college and hopefully people will start to see the obvious that they are being doped into a failed system which hopefully will let colleges just be their for the betterment of humanity and not cubical factories!
Let me know your opinions and comments.
Labels: business, college, investments, money
