Tuesday, January 20, 2009

The Great College Loan Scam

Forbes reports that going to college can be crazily expensive and isn't the money-maker it's been cracked up to be.

Money Q:

"Higher education can be a financial disaster. Especially with the return on degrees down and student loan sharks on the prowl."

Read the whole thing.

3 Comments:

Anonymous Anonymous said...

It depends upon what you are going into debt for. The doctor profiled in that story is grossing $200K per year. $100k in debt can be knocked down without much pain in about three to five years at that level of earnings. However, going in $150K in debt to get a MFA or even a law degree is not necessarily a wise investment. Education is a means to an ends, not a end unto itself.

January 20, 2009 at 10:59 AM 
Blogger David Diano said...

Education is an end in itself. It doesn't have to be a "money-maker" to have value.
Unfortunately, Spencer and his followers value ignorance. It costs nothing and is worth even less.

January 20, 2009 at 2:41 PM 
Anonymous Anonymous said...

Why isn't a law degree a good investment? It sure IS if you study hard to stay in the top 10% and then be a member of law review. Right out of school you get $120K at a large firm. Sounds like a good investment to me.

January 20, 2009 at 9:29 PM 

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