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Most are over priced and underdeliver on the ROI. Student seem to be ill informed on the debt load and the future earnings, and they dig quite a hole for themselves.
‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off
Lured by the aura of degrees from top-flight institutions, many master’s students at universities across the U.S. took on debt beyond what their pay would support, an analysis of federal data on borrowers found.www.wsj.com
the issue is kids out of college actually start to get out there and find out that the $40k they are getting paid doesnt go that far when mom and dad are not paying for things or you aren't just borrowing money to pay for school. So they think going back to get a Masters is somehow going to take them from $40K to $100k just because they got two more years of schooling. That isn't teh case about anywhere with any masters. Just poor decision making by the person who thinks that and they are just fooling themselves in most cases as they just don't want to face up to the fact that you have to start out at the bottom and work your way up. they think somehow a masters will allow them to jump the line and start out in mid management already.Over the past few months WSJ, has had quite a few articles on Masters programs. Most are over priced and underdeliver on the ROI. Student seem to be ill informed on the debt load and the future earnings, and they dig quite a hole for themselves.
This link opens for me, but I have a WSJ subscription. Hopefully it opens for the posters.
‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off
Lured by the aura of degrees from top-flight institutions, many master’s students at universities across the U.S. took on debt beyond what their pay would support, an analysis of federal data on borrowers found.www.wsj.com
Well intended kids and parents. They think that a Masters sheepskin from a reputable school will be the answer to an over 100k job offers. The parents often are not financially savvy, but believe in their child, and the school, and go balls to the wall.the issue is kids out of college actually start to get out there and find out that the $40k they are getting paid doesnt go that far when mom and dad are not paying for things or you aren't just borrowing money to pay for school. So they think going back to get a Masters is somehow going to take them from $40K to $100k just because they got two more years of schooling. That isn't teh case about anywhere with any masters. Just poor decision making by the person who thinks that and they are just fooling themselves in most cases as they just don't want to face up to the fact that you have to start out at the bottom and work your way up. they think somehow a masters will allow them to jump the line and start out in mid management already.
How so?UNC set the example for this.
It doesn't help that high school and college counselors advise kids to "do what you love". Of course it's important to enjoy what you do but it's also important that you can support yourself and repay your debt.at the same time, this is a master's program. not like they are fooling 9 year old kids here. Talking 22-25 years old's that have gone through college already and should have some clue about how much school costs and what salaries are like in the real world. I mean you have to have your head in the sand to not know that social workers don't make much money, about everybody knows that. At a certain point, have to take responsibility for yourself if you overpay for something that is worthless of your own volition.
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Hopefully, people will wake up.
In engineering at least, masters programs seem to be priced as if employers are paying tuition for employee development.Over the past few months WSJ, has had quite a few articles on Masters programs. Most are over priced and underdeliver on the ROI. Student seem to be ill informed on the debt load and the future earnings, and they dig quite a hole for themselves.
This link opens for me, but I have a WSJ subscription. Hopefully it opens for the posters.
‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off
Lured by the aura of degrees from top-flight institutions, many master’s students at universities across the U.S. took on debt beyond what their pay would support, an analysis of federal data on borrowers found.www.wsj.com
In engineering at least, masters programs seem to be priced as if employers are paying tuition for employee development.Over the past few months WSJ, has had quite a few articles on Masters programs. Most are over priced and underdeliver on the ROI. Student seem to be ill informed on the debt load and the future earnings, and they dig quite a hole for themselves.
This link opens for me, but I have a WSJ subscription. Hopefully it opens for the posters.
‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off
Lured by the aura of degrees from top-flight institutions, many master’s students at universities across the U.S. took on debt beyond what their pay would support, an analysis of federal data on borrowers found.www.wsj.com
at the same time, this is a master's program. not like they are fooling 9 year old kids here. Talking 22-25 years old's that have gone through college already and should have some clue about how much school costs and what salaries are like in the real world. I mean you have to have your head in the sand to not know that social workers don't make much money, about everybody knows that. At a certain point, have to take responsibility for yourself if you overpay for something that is worthless of your own volition.
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Engineering programs at least provide for a really good chance at a lucrative career.In engineering at least, masters programs seem to be priced as if employers are paying tuition for employee development.
Few advanced degrees have a significant ROI. I regularly tell young professionals not to get their MBA unless it's from a traditional top-10 Ivy type of program.the issue is kids out of college actually start to get out there and find out that the $40k they are getting paid doesnt go that far when mom and dad are not paying for things or you aren't just borrowing money to pay for school. So they think going back to get a Masters is somehow going to take them from $40K to $100k just because they got two more years of schooling. That isn't teh case about anywhere with any masters. Just poor decision making by the person who thinks that and they are just fooling themselves in most cases as they just don't want to face up to the fact that you have to start out at the bottom and work your way up. they think somehow a masters will allow them to jump the line and start out in mid management already.
LOL - true. And I took advantage of it.In engineering at least, masters programs seem to be priced as if employers are paying tuition for employee development.
I find it obscene that any school would charge 100K for an online program catering to low wage earners, when the expected return is an enhanced low wage. Shame on USC.
My guess is that few posters have had to rely on social workers, save for hospital related matters. They are overloaded, underappreciated, and underpaid, believe me. Of course, they are also the government's face in its response to poverty. My strong suspicion is that for a whole host of reasons, they are lightning rods for conservative ideologists.
In the end, there are two ways to deal with economic mistakes/issues.I agree. but the answer isn't to forgive all the loans of the students that went there as that doesn't solve anything. How about if USC actually did break some laws (maybe false advertising or predatory lending laws), that USC gets fined and that money goes to allow the students that graduated with that degree don't have to pay the interest on the loan for example. So the principal of the loan is still there, but don't allow the banks to make money on lending somebody something they knew they were not going to have a good chance of getting back. So something like that, USC loses (they are fined) for doing something they should not have done, the banks lose (no interest on loan) for doing some stupid, and the students have some relief (no interest on loan) but still have to pay back the loan they took as shame on them for being stupid.
In the end, there are two ways to deal with economic mistakes/issues.
1. Pass laws and regulations that keep everyone in line. This is what is done in controlled economies. Have a specific wrong - pass a single, targeted law.
2. Make the market function better. Remove government subsidies for education and let the VALUE of the degree stand on its own. Engineering will be higher priced because it has more value. Gender studies will have to be given out for free, because it has zero value.
Let me summarize this....
Gender Studies wasn't valued when there were only 2 or 3 genders. Now that there are 12 genders... you need a Master's degree.Gender studies will have to be given out for free, because it has zero value.
I say this without an ounce of arrogance and mean no disrespect, but you are wrong on almost everything in this post.I find it obscene that any school would charge 100K for an online program catering to low wage earners, when the expected return is an enhanced low wage. Shame on USC.
My guess is that few posters have had to rely on social workers, save for hospital related matters. They are overloaded, underappreciated, and underpaid, believe me. Of course, they are also the government's face in its response to poverty. My strong suspicion is that for a whole host of reasons, they are lightning rods for conservative ideologists.