Is College a Rip-Off?
January 20, 2009
Friday night's episode of 20/20 features a segment by John Stossel arguing that because college has gotten so expensive, it simply isn't in the best interest for everyone to attend. Watch:
This is a topic that has been getting a lot of attention in recent months. As I noted in my post about the student debt dilemma, I believe a major problem is that high school students simply aren't in a position to make rational decisions about whether or not to go to college, where to go, and how much to borrow. This is why I think the statistic referenced in the video that says 40% of graduates wouldn't attend to their school again exists.
The reason this issue appears to be getting more attention now than ever is that the costs of dropping out or getting a degree without a high-profile career are higher than ever. If college were more affordable, going for two years, dropping out and deciding to try something else would primarily cost a person their time - but now, it costs both time and the dollar amount (plus interest) that is spent giving college a shot. For that reason, public policy that seeks to make college affordable again (like it was in past decades) is a noble goal that often seems to get overlooked by these "college isn't for everyone" critics.
This is a topic that has been getting a lot of attention in recent months. As I noted in my post about the student debt dilemma, I believe a major problem is that high school students simply aren't in a position to make rational decisions about whether or not to go to college, where to go, and how much to borrow. This is why I think the statistic referenced in the video that says 40% of graduates wouldn't attend to their school again exists.
The reason this issue appears to be getting more attention now than ever is that the costs of dropping out or getting a degree without a high-profile career are higher than ever. If college were more affordable, going for two years, dropping out and deciding to try something else would primarily cost a person their time - but now, it costs both time and the dollar amount (plus interest) that is spent giving college a shot. For that reason, public policy that seeks to make college affordable again (like it was in past decades) is a noble goal that often seems to get overlooked by these "college isn't for everyone" critics.
