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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.
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.
posted by Spencerblog at
9:22 AM
3 Comments:
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.
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.
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.
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