There’s a common perception that a college education results in a high salary and quality of life, but dropout rates and crippling debt often go unconsidered. Nowadays, a significant portion of college graduates struggle to find work, and high university fees and loan interest rates can affect a person’s income for many years after graduation. Skills-based training, on the other hand, costs significantly less than a bachelor’s degree and takes two years to complete rather than four. Could skills-based training be more beneficial for today’s high school students? Or, should people still believe that they must aim for university?
Money. It is never something we really give much thought to when we are young, ambitious and adventurous. We decide our major based on what we love doing and what we are good at – have a knack for. But, what if our romanticised view of our career path takes a severe battering, when it comes to money, just based on that single choice? What we study at college has the potential to reduce or increase our projected income by more than 300%. [Read more…]
Should the American dream now be called the American college debt nightmare? Some 40 million Americans will be in debt as that is the cost of education these days. The economic facts are indisputable:
Outstanding student college debt totals $1.2tn in the US
The cost of a private non-profit four year college institution has risen by 267%, over the last 30 years
The cost of a public four-year college institution has risen by 357%, in the same time frame
The average student loan debt for graduates stands at $26,000 (Guardian 2013) [Read more…]