Is the Four-Year, Liberal-Arts Education Model Dead?

Yet, these colleges have been able to raise their standards for entry, increased class sizes and tuition at above inflation rates so it looks like there is a demand for the product.

Or maybe because jobs are scarce, more kids are choosing to go to college instead. I know there was a surge of applications for MBA's when Wall Street started laying off people a couple years ago.

Local_Historian wrote: Honestly, how many of us work in the field we have our degrees in?

Not me, I have a BS in Biology and never worked a day in that field. Thanks to a gift subscription to Byte Magazine I got interested in computers not long after graduation . My career path shifted to 1s and 0s instead of living things. Although I still have a pretty good interest in living things and how they work.

In our topics on education I keep trying to explain that todays education system is ripping us off. For some reason, parents are willing to pay the price - whatever the system deands from them. We don't stop and ask ourselves - is there a more efficient way to learn this skill than paying some over-compensated teacher or school for it.

http://finance.yahoo.com/college-education/article/109946/college-big-investment-paltry-return

Then the question of value comes into play- did the student learn a skill that is in demand? Are there too many people with Journalism degrees - as compared to the market demand for Journalists?

Just how many Political Science experts do we need as a whole society? I think we have too many.

And what about the debt these students are racking up? Is it going to take half a career to pay it off - or should that time have been better spent earning money in the real world. People do need to take a closer look at this before sending their little crumb crunchers off to college.

And what do we all normally get an education for in the first place? Is it not so we can live a decent life - afford to buy a house and a car and raise a family? I think many colleges are stealing half of that house away from our students before they even get started!

And then there is the question of the quality of the education they get these days. I don't like to purchase a product that is crappy - but American students are doing it everyday. They pay filet mignon prices for plain old hamburger.

I almost started a thread the day this recent article came out but was too busy that day. It's time to get smart about education people - time to flush out the fraud in our school systems, and focus on what really matters - do it for YOUR children. Don't just buy the product that our teachers are sellin - just because they are sellin it. Dont just assume that they are peddling a good product in our schools - demand results - and don't settle for anything less.

http://finance.yahoo.com/tech-ticker/brain-drain-most-college-students-learn-next-to-nothing-new-study-says-535824.html?tickers=%5EGSPC%2C%5ESPY%2CCOCO%2CAPOL%2CDV%2CESI%2C%5EDJI

This is a good topic - we need to bring the problems with education to a better light.

"Forget Harvard and a 4-Year Degree, You Can Make More as a Plumber in the Long Run, Says Prof. Kotlikoff"


http://finance.yahoo.com/tech-ticker/fo ... et=&ccode=

Good Article - plumbers do make a good living- if they can find the work these days.

I think it's worth looking at the financial impact of starting out a working career with 100K of debt that can't be discharged even in a bankrupcy. If a graduate cant find work for a few years - that loan just grows and grows - and it can't be gottn rid of.

The burden takes a heavy toll over a career- and affects how much money a new grad can contribute to a retirement account in the early years, and we all know how important it is to save early in one's life - compound interest and all.

I also would not advise a parent to spend what would have been retirement money to send their crumb cruncher to college. One would be much better off investing the money and be in a better position to help out if real trouble is encountered in later years. I know a lot of college grads living in mommy's basement these days, and mommy spent all her money sending the kid to school.

Professor Kotlikoff makes his case by comparing the livelihoods of plumbers and doctors. Yes, doctors have a bigger salary. But, doctors have to endure nearly a decade of expensive education before making any real salary, after which the doctor is hit by a very high progressive tax rate. Because of all the costs the doctor incurs, the taxes and the lost wages, he says, “plumbers make more, and have almost the same spending power over their lifetime as general practitioners."

The high cost of tuition – and in turn high burden of student debt – is a key part to Kotlikoff's findings.

Very Interesting - too bad they don't teach this stuff in college.

I am amazed at the # of people I talk to in there 30's and 40's who still have outstanding student loans.