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.


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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