Sunday, September 22nd, 2019  |  3:25 PM

A Conservative Newspaper Promoting,
Life, Liberty, and the Pursuit of Happiness

Subscribe Now: Get your own copy of The US Journal

Thinking Outside the College Box

Written By: Gary Jason  |  Posted: Monday, December 17th, 2012

from American Thinker

A number of recent articles explore the growing trend among college-age people to question whether college is worth the costs -- both the direct costs in terms of tuition and opportunity costs in terms of lost time.  In other words, many more college-eligible people are now thinking outside the college box.

Three factors are impelling this widespread re-examination of the necessity of college.

First, the soaring cost of college tuition and the debt it is causing are becoming widely known.  For example, the NY Times has prominently reported that average student loan debt rose 5% from 2010 to 2011, now averaging $26,500.  Some two thirds of those receiving a bachelor's degree had student loan debt.  Student loan debt now exceeds $1 trillion; $117 billion in such debt was added last year alone.

Second, it is also coming to the public's attention that the average earnings for bachelor's-degree workers are dropping rapidly in absolute terms, and dropping in value compared to the cost of tuition at an even faster clip.  Just since 2000, tuition rates have risen nearly linearly by 72.0% (i.e., an average 5.6% annual growth rate).  But during the same period, the average earnings for baccalaureate grads dropped 14.7% (or an average drop of 1.6% yearly).  No doubt this is a major reason why the delinquency rate for student loans now exceeds that for mortgage loans, credit card loans, and indeed all other forms of consumer loans.

Read more at AmericanThinker.com

Share this on Twitter  |  Share this on Facebook  |  Email to a friend.  |  Contact the editor.

What are your thoughts?

Want full access to all the articles on this site?

You must be a subscriber to read entire articles.

Gain 24/7 access to all the content on this website by becoming a subscriber.
Choose your subscription plan and get full access in minutes. Subscribe now. »

If you are already a subscriber, sign in now to read more full articles.

More Business News

Subsidies Galore: Corporate Welfare

Gold Backed Currency?

Go For The GOLD!

Poor CEO Demands Raise Because He Can Only Afford $20M Vacation Home

What the Millennials Believe About the Future of Capitalism is Terrifying

Inflation is Coming

Why is Profit So Important?

End of Malls will not make Shopping any Better

Elderly - Get Out of Stocks and Mutual Funds

Our Government-Created Financial Crisis