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Article posted Nov 14 2012, 6:32 AM Category: Economy Source: Peter Schiff Print

Is a College Degree Worth the Cost? You Decide.

President Obama promotes the myth that everyone must go to college. That if you don't go, your life will be ruined -- that you will end up waiting tables, or trapped in some other mundane occupation. The truth is, even with a college degree, you may still end up waiting tables, you'll just begin your "career" four or five years later, tens of thousands of dollars in debt.

Here is an example of some of the plumb jobs college grads were able to land during the Obama administration. Not just liberal arts majors mind you, but graduates with degrees in mathematics, robotics, neuroscience, engineering, accounting, business administration, economics, biology, communications, graphic design, marketing, and linguistics.

Of course when it comes to education, it's not just the Obama administration that deserves a failing grade. For years, politicians of both parties have pandered to students by promising more aid in the form of direct or subsidized student loans. As a result, colleges and universities are freed from competitive forces that would otherwise keep tuition low. Easy access to cheap credit enables students to bid up tuition, benefiting the educational establishment at their expense. Politicians secure student's votes by promising relief from skyrocketing tuition by providing even more loans. Ironically, the loans themselves are the very reason tuition is so high in the first place.

Before the Federal Government got involved, college degrees were much more affordable, and ambitious students from poorer families could easily work their way through. In addition, as fewer high school graduates actually went on to college, not only were college degrees much less expensive to obtain, they were far more valuable to have. With so many high school grads going on to college, a college degree is actually less valuable in today's job market, despite its inflated price tag, than was a high school diploma in the 1950s. The only solution is to get the Federal Government completely out of higher education, and let the free market fix what the government broke!

For those of you who feel a college degree is essential to financial success consider John D Rockefeller and Andrew Carnegie. Rockefeller dropped out of high school and began working full-time at age 16. Carnegie didn't even go to high school and began working full-time at age 13. Both men were born poor and became self-made billionaires, with estimated net worths at their deaths (in today's dollars) of $670 and $300 billion respectively. To put those numbers into perspective, the richest living American, Bill Gates, who dropped out of Harvard during his sophomore year, has an estimated net worth of just $65 billion.

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Comments 1 - 6 of 6 Add Comment Page 1 of 1

Posted: Nov 15 2012, 4:21 AM

81161 Yeah right, drop out of school and you will automagically become
richer than Rockefeller and Carnegie combined ..
The Holly Free Market will take care of it !!

" ambitious students from poorer families could easily work their way through. In addition, as fewer high school graduates actually went on to college, "

Libertarian free-market logic at it's best ..

Posted: Nov 15 2012, 9:43 PM

752 College is a great idea if you want to get into a licensed profession, such as by becoming a lawyer (yes, I know, lawyers are having a tough time right now), nurse, engineer, certified public accountant, doctor, or school teacher. If you go to community college and become a paralegal or a bookkeeper, you will most likely find a better job than the people in this video.

The people from this "street" interview claim they majored in the following:
Evolutionary Biology (which I have never heard of as an actual major);
Science (there is no "science" major, was it chemistry, physics, what?);
Physical Education;
and the every popular, "General Studies."

I think a lot of these people are lying when they say they went to college.

Posted: Nov 16 2012, 1:32 AM

7846 Yes, the degree is worth it. So many jobs require a degree.

Posted: Nov 16 2012, 11:14 PM

752 I thought I would point out that John D. Rockefeller and Andrew Carnegie (who was a bookkeeper by the way), were funded by the Rothschilds. If that happens, yes, college may be unnecessary.

Posted: Nov 20 2012, 9:17 AM

205209 Yes, you can major in science. It is a liberal arts-type degree, although it is not offered anywhere. Many jobs do require degrees; I have been in the job market for a long enough time without one to be painfully aware of this. Furthermore, higher education is significantly correlated with expanded social networks and greater life fulfillment. 1%ers don't want people becoming more educated so they're ignorant enough not to be able to participate in democratic society. And yes, the world is just abounding with self-made billionaires... Wow, it's like throw a rock and you hit one.
The Grammarian

Posted: Nov 20 2012, 9:20 PM

752 Okay. Explain this sentence to me:

"Yes, you can major in science. It is a liberal arts-type degree, although it is not offered anywhere."

I'm not sure I understand what "a liberal arts-type degree" is, can you tell me what this is?

In addition, if it, it being the degree, is not offered anywhere; then how do you get the degree?
Comments 1 - 6 of 6 Page 1 of 1

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