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Was College Worth It?

UserPost

6:05 am
March 8, 2012


CBC

Liverpool

Member

posts 62

I think its fair to say that college did indeed benefit those who stayed on the same career path, however for those who didn't, turned out to be a waste of time and money.

CBC International are specialists in debt recovery, based in Liverpool who provide their services to businesses across the UK, Europe and Worldwide.

3:42 am
March 13, 2012


theycallmecheap

Washington, D.C.

Member

posts 77

Thank you all so much for sharing your advice, opinions, and experiences. I finally got around to writing the blog post that inspired the question. The post is simply titled, Is College Worth It? Please check it out and comment.

I was actually surprised to discover how many people are still proponents of a college education. You wouldn't be able tell if you only paid attention to the news headlines.

Shawanda Greene

Blog: YouHaveMoreThanYouThink.org – "A reality check to financial freedom."

Twitter: @TheyCallMeCheap

Email: TheyCallMeCheap@gmail.com 

3:57 pm
March 15, 2012


Frugal Portland

Portland, OR

Member

posts 126

College is worth it in the same way that aging wine is worth it. 18-year-olds know everything and they are invincible. I would personally much prefer to work with a 22-year-old who has a bit more life experience. There's also a huge bias against people without degrees, and although some people can get past that, because they are the next Steve Jobs, most people need some sort of credentials.

frugalportland

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1:13 pm
March 26, 2012


Jake@iHeartBudgets.net

Member

posts 407

Post edited 1:17 pm – March 26, 2012 by Jacob W


addiea123 said:

PS… Does anyone else find it crazy that you make such life altering decision as a senior in high school!?

 

This has always puzzled me. I learned about Running Start my senior year (RS starts junior Year), and then was supposed to start applying to colleges in January of my senior year. I had NO CLUE what I wanted to do at that point, so I just didn't.

 

Ended up at community college on and off for 2 years, then got a degree from an art school.

 

BUT, as much as I want to knock my audio degree, it has assisted me in getting my current position ($55k salary), and helped me with my troubleshooting and problem solving skills ("why is that microphone squealing at 115dB?!. OMG FIX THAT RIGHT NOW!!!!").

 

Edit: BTW, my degree was $33k, but is now (thankfully!) paid off. I would say college is worth it IF you can do it without going into debt, and if you know what your are getting in to.

 

Now, my wife has a bachelor's degree from a private, out-of-state college and is now a stay-at-home mommy. But that's a whole other can of worms…

9:09 pm
August 14, 2012


momoneymohouses

Vancouver, BC, Canada

Member

posts 20

I went to university and it took me 5 years to finish my bachelors (I took summers off plus I didn't get into the specialized program I wanted to until after my first year). But I got an entrance scholarship that paid for my first year, I worked a part-time job to pay for the other years, and at the end of it only had a $5k student loan to pay off which isn't bad. I think the problem is that people assume they need a student loan when they might not. My sister is in her second year of university and is paying it herself with her part-time job. Then again we both lived at home while in school which definitely helped a lot. I did however consider going to a college for my first two years then transferring to a university afterwards since it's cheaper to do that but I decided I want the full university experience and I don't regret a thing.

Mo' Money Mo' Houses

momoneymohouses.com

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Personal finance with a dash of sass.

8:51 am
August 17, 2012


CBC

Liverpool

Member

posts 62

theycallmecheap said:

I'm working on a blog post that details how to get a good return on your college investment. (I'm still working on a snappy title.) 

I am NOT a fan of student loan debt. And I think the United States' focus on sending everyone to a 4-year university is misguided. However, a bachelors or advanced degree does pay off handsomely for some people. It did for me. 

So, I was wondering if any of you guys could tell me what you did to make your college degree a worthwhile investment. If you went to a community college even better. And if you think going to college was one of the worst decisions you ever made, I'd like to hear that too.

Thanks in advance for your help! 

How is the article coming along? Hopefully it's finished by now Wink 

 

What would be a good idea would be to write a blog post which covers all of the subjects in university, along with the yearly cost. Then compare them to the earnings over a 5 year period. Or a scale of how long it would take to cover the cost of university. 

 

Unless that is what you have done of course

CBC International are specialists in debt recovery, based in Liverpool who provide their services to businesses across the UK, Europe and Worldwide.

12:41 pm
February 20, 2013


momoneymohouses

Vancouver, BC, Canada

Member

posts 20

University and getting my bachelor's degree was definitely worth it to me. In that 5 years I matured, learned to communicate better through writing and conversation, and just become more well rounded if I hadn't gone to university. Plus, I know I wouldn't have been able to get the job I have now with my degree, so it was definitely worth the money for me.

Mo' Money Mo' Houses

momoneymohouses.com

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Personal finance with a dash of sass.

12:12 am
March 2, 2013


Money Soldiers

Member

posts 16

This question crosses my mind these days, especially now that I began being self-employed.  I attended the best university in my country, the University of the Philippines and graduated with a bachelors degree in civil engineering.  For the past ten years or so, I was working regular office jobs and those jobs did not bring me anywhere.  I think those jobs for the most part, sucked out my youth and did not help me attain a financial situation that I wanted to achieve.  College would be worth it if the college kids are made aware that after college, there are other ways of making a living other than entering the corporate world.  I credit my college education with training me to think well, without it I believe I would have a harder time succeeding as a businessman — that is why I wouldn't say that college is a total waste of money and time.

Money Soldiers

Helping you fight your financial battles

2:55 pm
March 4, 2013


ayoungpro

Lehi, UT

Member

posts 184

College was definitely worth it for me. I just graduated in December and I am making 2.5x what I was making before, which has allowed my wife to be a stay-at-home mom. Having my wife at home with my daughter has been priceless!

7:02 am
March 6, 2013


John @ DebtAdviceResource

Member

posts 104

I think college helps create a certain mindset, however, if that mindset was always there it would be a waste. There are some professions where it's essential, but most people shouldn't bother :-)

John "The Bankruptcy Guy"

 

Visit my website: http://www.debtadviceresource.com

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8:09 am
March 13, 2013


Greg @ ThriftGenuity

Member

posts 61

Anybody else convinced that student loans has a good chance of being the next housing crisis?

12:00 pm
June 20, 2013


bobrichards

Member

posts 10

College is the minimal education needed to participate in the world.

It is what a high school education was 40 years ago.

Because it is an "entry level" ticket, get a college education as cheaply as possible.  Got to a state school (subsidized tuition) and then go to a GREAT graduate school.  Invest your money in a top-10 grad school.

No one cares where you went to college.

p.s. I am 56, have hired hundreds of people (and did not care where they went to school, only that they had the determination to finish). I went to a state school and then Harvard Business School.  NO ONE cares where I went to college when they see a Harvard MBA.

1:39 pm
June 20, 2013


krantcents

Member

posts 909

bobrichards said:

College is the minimal education needed to participate in the world.

It is what a high school education was 40 years ago.

Because it is an "entry level" ticket, get a college education as cheaply as possible.  Got to a state school (subsidized tuition) and then go to a GREAT graduate school.  Invest your money in a top-10 grad school.

No one cares where you went to college.

p.s. I am 56, have hired hundreds of people (and did not care where they went to school, only that they had the determination to finish). I went to a state school and then Harvard Business School.  NO ONE cares where I went to college when they see a Harvard MBA.

Good point!  I would add that college or graduate school just provides some skills and knowledge.  It is still up to the individual to do something with it.  

krantcents  – Making Sense of Money

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8:25 pm
June 20, 2013


Squirrelers

Member

posts 986

bobrichards said:

College is the minimal education needed to participate in the world.

It is what a high school education was 40 years ago.

Because it is an "entry level" ticket, get a college education as cheaply as possible.  Got to a state school (subsidized tuition) and then go to a GREAT graduate school.  Invest your money in a top-10 grad school.

No one cares where you went to college.

p.s. I am 56, have hired hundreds of people (and did not care where they went to school, only that they had the determination to finish). I went to a state school and then Harvard Business School.  NO ONE cares where I went to college when they see a Harvard MBA.

Wise words here, you've said it well! My MBA wasn't from Harvard though :) Oh well. However, I agree that college is what a high school education was years ago.  The key is going to graduate school and choosing one that yields differentiated ROI. 

In terms of undergrad education, I think the idea of whether or not college is worth it is more like: you must go to college, but you really should choose your undergrad school with great care.  Some can really wreck a person's future, if way too expensive.  So choose wisely, but don't choose not to go to college.

Ray

Member Site: Squirrelers

Challenger Site: Tie the Money Knot

Email: admin@squirrelers.com

7:46 pm
October 6, 2013


bryce

Member

posts 40

Post edited 7:47 pm – October 6, 2013 by bryce


My wife and I both have advanced degrees in mechanical and aerospace engineering. We would not have our current jobs without our degrees.

My wife had a merit scholarship from Boston University for the first two years of her bachelor's degree. She completed her mechanical and aeronautical bachelors degrees at UC Davis. She had about $20k in student loan debt.

I had the old GI Bill when I got out of the Air Force. It had a limit of $15,500 to use for an accredited degree. I lived with my parents and went to Santa Barbara City College for my lower division classes. I worked in the tutorial center for spending money. I transferred to UC Santa Barbara and earned my mechanical engineering bachelor's degree. I had no debt when I finished, and in fact had enough money to buy a new Toyota standard pickup for $6k.

We both had our master's degrees paid for by work.

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