The Case Against Going to College - Dec

12142015 The case against going to college shy Dec 9 2015

httpmoneycnncom20151209newseconomycollegeshynotshyworthshyitshygoldmanindexhtml 113

Your Economy

Is college worth it Goldman Sachs saysmaybe notby Heather Long byHeatherLong

December 9 2015 1238 PM ET

A college degree is getting so expensive that it might not be worth the money anymore

At least thats what Goldman Sachs ( ) thinks

Many students are better off not going to mediocre colleges -- ones that rank in the bottom 25 ofall universities -- Goldman says in a new report They earn less on average than high schoolgraduates

But even those who attend mid-tier universities might want to reconsider

The average return on going to college is falling Goldman researchers wrote The bank is knownfor ruthlessly focusing on the bottom line

Related Americas 10 most expensive colleges

A college degree doesnt pay off for yearsIn 2010 the typical college student had to work 8 years to break even on their bachelors degreeinvestment Goldman found Most graduates would be around 30 years old by then

As the price tag of a college education goes up its taking longer for the investment to pay offHeres what Goldman projects -- 2015 graduates wont break even until age 31 -- 2030 graduates wont break even until age 33 -- 2050 graduates wont break even until age 37

Some degrees are worth more than othersThe payback time varies widely by major American businesses complain they cant find enough

GS

Advertisement

How much youshould have savedfor retirement rightnow

This solar companywill power MiddleEast oil

Is college worth itGoldman Sachssays maybe not

Social Surge - Whats Trending

Mortgage amp Savings

92kRecommend

Business Markets Tech Media Luxury stock tickers

CNN International



skilled workers despite the fact that there are record numbers of college graduates

The choice of college and major are more important than ever to students given the changing returnprofile writes Goldman

Nearly 155 million Americans are currently enrolled in two-year or four-year colleges according toCensus data Attending schools like MIT is still a huge resume and pay boost for life but Goldmanquestions whether millions of students at lower-tier schools would be better off doing other kinds oftraining

Share your story Do you regret going to college

Some degrees are more valuable than others Salaries are going up much faster for students whoattend the top universities and those who major in business health care and tech

Graduates studying lower paying majors such as arts education and psychology face the highestrisk of a negative return notes Goldman For them college may not increasingly be worth it

Related How he won 35 scholarships and went to college for free

A higher education revolution is comingOf course the benefits of a college education go beyond just landing a high-paying job Manygraduates find lifelong friends and experience huge personal growth

But its an expensive way to do that The pricetag for a year or study at a private college is now$43921 Even in-state public universities now average close to $20000 a year

Goldman sees a major revolution coming in higher education College costs keep growing Studentdebt is now over $1 trillion Employers are frustrated they cant find graduates with the right skillsand many college graduates are frustrated that they cant get better jobs

Employers are likely to become more open to hiring people who do other forms of training andeducation such as Lyndacom lessons (owned by LinkedIn ( Tech30)) or MOOCs (MassiveOpen Online Courses)

Companies like Facebook ( Tech30) and Google ( ) might also end up creating their own defacto degree programs so they can tailor the courses to exactly what they want

Related Looking for a better job Try the Steve Jobs approach

Related Why Americas most expensive college is a bargain

CNNMoney (New York)First published December 9 2015 1238 PM ET

LNKD

FB GOOG

Promoted Stories Recommended by Outbrain

Aged 35 he speaks 11languages - his 11tricks to learn anyhellipBabbel

Eight ExoticSuperfoods to BoostYour Immune System -ForhellipDummiescom

Amazing SanFrancisco LuxuryProperties You Have toSee tohellipMansion Global

10 Worst Cities in theUS to Visit ForChristmasParachute by MapQuest

Products Loan Amount

$200000Location

West Palm Beach FL

Disclosures

30 year fixed mtg All points 20 down

Update

Citibank N A

Dec 114183APR

$969$13802541250000

NMLS 412915

Payment Fees Rate Points

Next

Sebonic Financial

3750APR

NMLS 66247


Next

See more rates

30 year fixed

Taiwan Excellence

Made in Taiwan CelebratingExcellence in Taiwan

A diverse showcase of Taiwanese

products and creativity on display at

Grand Central Terminal in New York

Millions of job openings

Job title

Location

Find Jobs

Employers Post a Job

jobs by

Accounting

Finance

Marketing

Engineering

Management

Sales

Developer

Media

See all jobs

Promoted Stories

How to ChooseBetweenhellipThe Finder Singapore - ExpatsGuide to Singapore

Sponsor Content

Search for Jobs



Around the Web

Asiarsquos approach to learning spawns a globalindustry Financial Times

W jakim stylu robisz zakupy online Weź udziałw quizie PayPal

A Bizarre Traffic Accident In China Causes CarsTo Levitate GossipEdgecom

Today English Is as Important as a TechnicalSkill Why English Matters by TOEIC

The new RX - Issue 6 Lexus Global

Gambia president declares country an Islamicrepublic Nikkei Asian Review

More From CNN Money

I could be a prostitute Id rather be a nerd

Man begs for money after risky bet implodes

Bank of Englands doomsday scenario lookspretty real

Our sons $189000 student debt is delaying ourretirement

No more sex at Abercrombie amp Fitch Stock soars

Sweet Leaf Tea recalls 15 million bottles for glassfragments

Recommended by

Sign in

Newest Oldest

NUWildcat13 12 hours ago

Major and institution make a difference I know a few people who majored in English andpsychology in college and now work at selective management consulting firms and the onewho majored in psychology now works at Goldman Sachs At highly selective schools I dontthink major makes so much of a difference in terms of getting a job Everyone in mygraduating class who wanted a job got one

Flag Share Like Reply

James Ellis 13 hours ago

High school grads are poor writers taken on the whole but colleges require a lot of writingThat training alone makes college necessary Add in the foundations curricula and collegegrads leave with critical thinking skills across various disciplines that are necessary fordiverse thinking Professional programs alone cannot do that If you only study tech skills at aGoogle school you lose out

Flag Share 1 Like Reply

Steve Caston 13 hours ago

Financial Times

Rates dip to 278 APR (15 yr) See ifyoure eligible

Cut credit card debt with a 599APR loan

Are you sure you dont have errors onyour credit report See your free score

These 4 balance transfer cards couldhelp you save big

The fastest way to pay off $10000 incredit card debt

Retirement is good for you mentallyand physically - FTcom (FinancialTimes)

Marissa Mayer vows to stay at helm ofYahoo - FTcom (Financial Times)

Formulas WorthMemorizingDummiescom

What do PeopleOver 50 WanthellipGreen Builder

Poverty in ChinaBeijing targetshellipNikkei Asian Review

Most Popular Videos

The death of thepeanut

Why Robin Williamsson hangs outbehind bars

Dubai propertymogul reversesstance on DonaldTrump

Chevrolet wins bigwith Motor Trend

Post comment as

Comments

Sponsored Lending News



James Ellis I have worked for attorneys over the years shy they have 7 years ofcollege and are poor writers


JAE1983 13 hours ago

James Ellis Sounds good in theory but Ive seen too many borderlineshyilliteratecollege grads to give it any credence in practice If the first 12 years of someoneseducation arent enough to teach him to write properly tacking an extra four yearsonto the end doesnt generally make much difference


Amado Castaneda 13 hours ago

Goes both ways I think Rich kids can pay their way through school but that doesnt guaranteethem success Its just a fact of life like it not guaranteeing success if you worked very hard forit eitherIt is bad enough WITH an education so think how worse it will be WITHOUT oneI agree with this article in how education nowadays is not something to kill oneself for Like inmy case where teachers at a university were too snobbish and couldnt correctly speakEnglish I paid my dues and moved to a better university simply because my high grades incollege allowed me to do so Plus nobody was going to make me a fool especially as Ialready had a college diploma with High Honors written on it Dont let anybody make youbelieve that school is unimportant as you will sooner or later find better people who willrespect you for it in better places



Amado Castaneda I worked in a factory doing manual labor for two years tosave enough to go to college I had several colleagues doing the same job for thesame salary who had college degrees but were still unable to find a better jobMost of them were living with their parents because $11hour didnt allow them tosupport themselves and pay off their loans

Incidentally most of them were about on the level of the proverbial box of rockswhich probably had something to do with their inability to find employment in theirchosen fields Thats a fact of nature that much like their height isnt likely tochange A college degree worked out well in my case but it isnt the best choice foreveryone It probably wasnt for them If they hadnt gone to college theyd be noless qualified for the job they ended up with and would at least not be stuck livingwith their parents forever


Terry Bull 13 hours ago

College is worth the money Its the kids that we send that arent


SteveLyons16 14 hours ago

I personally dont think college is worth it anymore I did my 4 years in college and obtained adegree in business Now I own my own construction company and am making 10 times theamount I would have if I had stayed the field I was working in In my opinion the BabyBoomer generation is clogging up all the upper management positions leaving no clear pathto young persons to advance their career This obviously wont always be the situationhowever for the time being it is

Banks weigh competition from internetsector - FTcom (Financial Times)

Cash on the wane in UK as plasticpowers ahead - FTcom (FinancialTimes)

Defiance of a cigar veteran - FTcom(Financial Times)

How much do you need to borrow thisholiday season Get a low ratepersonal loan to help

Are you earning 01 in your savingsaccount Learn how you can 10x thattoday

Open a 1 year certificate of deposittoday

Some checking accounts you may notknow abouthellipopen a new accounttoday

The best credit cards of 2015

2 credit cards are offering 0 interestuntil August 2017

A jaw-dropping $625 intro bonus justhit the market

The unbelievable 6 cash back card

Top 7 credit cards for excellent credit

Advertisement

CNNMoney Sponsors

GoBankingRates

NextAdvisor



Most people my age (31) arent willing to get their hands dirty or to do labor intensive workHowever if they are they will find that their is a huge market shortage for intelligent peoplethat can communicate on a professional level with businesses needing services Starting myown business 9 years ago was no easy feat I worked a lot of hours for little pay just to getmy foot in the door But if youre willing to stick with it and to keep working hard you will meetthe right people that open the doors for you and in most cases they end up needing you morethan you need them Currently I have 32 full time employees around 20 subs and we havemore work than we could dream off and are all making great money

In my opinion all college did was offer me a time period to mature before entering theworking world It was a great experience and I had a lot of fun but if I had to do it over againI wouldnt go


dnokc 13 hours ago

SteveLyons16 Im not certain I agree with you entirely Steve Is construction notbusiness You also obviously mastered the ability to convey your thoughts inwriting quite well From the amount of employees and clients you have masteringthe art of communication is extremely important You are doing physical labor nowbut as time goes by perhaps that course in psychology will assist you in selecting aforeman to pick up most of that burden To manage that many employees requiresmore than the ability to balance a check book as well I think that degree youpossess polished an outstanding individualinto a superior one Congratulationson your success I think there is much more to come


abditive 14 hours ago

It is if you study something like engineering or science that will get you as JOB

Studying womens studies black studies philosophy etc is a COMPLETE waste of time andmoney

How many millennials are still living in mommy and daddys basement being cared forbecause they cantwont get a job


Billy Davis 13 hours ago

abditive I know several millennials who are living with their parents after gettingtheir job in engineering programming and biochemistry Of course thebiochemistry major did have to go on to get his masters before getting a job


MartyGRMI 14 hours ago

College is always worth it At the end of the day you need to play the odds and the odds areyour degree will matter down the line and in many cases it wont matter what its in I havemet so many people who are held back professionally because they dont have a piece ofpaper from any university

That being said a university degree doesnt guarantee success You still need to play theodds (dont rack up 80k of debt to be a social worker) If you are not rich or havent earned alarge scholarship get your first 60 credits from a community college Then get your degreefrom an inshystate school Dont buy your food from the university and just pay for tuition Youcan still go to a trade school if you want after the fact and having a degree will only give youmore options as you make your way through life





MartyGRMI College is getting more expensive because more people are beingrequired to get a degree Supply and demand

More people have college degrees so there is less need to pay as much to thosewith a degree Supply and demand



Billy Davis

There is a lot of truth to this You could argue that American business isunnecessarily creating this financial burden for many jobs Additionally they makeit worse by not training their employees There is too much focus on short termresults for many publicly traded companies



Billy Davis Almost You right on referencing supply and demand but its on thefront end Cheap loan money and govnt programs have flooded the market withdemand Schools can not absorb the demand (or money) fast enough so priceshave ridden and new suppliers (for profit schools) have entered the market



Terry Bull Billy Davis In the 1970s a person who had a HS diploma hadaccess to jobs that not only paid a similar wage as those who have a BS degreehave they are often the same jobs



Our present economy is based on the investments in infrastructure and education back in theearly to mid 1900s For the most part we are riding the wave they created for us Yet we areso used to not having to invest for the future that we deny the next generation the sameadvantages we were given

Sadly in the US the only way to make us stop pandering to myths and turn to science andmath is when we fear some enemy will outshyclass us in technology


Scott Helm 14 hours ago

In my opinion colleges became overpriced resort towns



Scott Helm I would bet my life you never went or couldnt get in




jst69 14 hours ago

I am working as a management consultant for fortune 500 companies in the United Statesand Europe As part of this job I sometimes get to interview candidates for VP roles andother key roles at a client I have to clearly say that good candidates can come with ourwithout a college degree A college degree (eg MBA) is just not a good indicator for a greatcandidate I am not sure why that is but I am guessing that some colleges dont teach theright things (outdated) or people are smart enough to find a way through without showing upas not knowing much

I also feel that some kids go to college because they have rich parents who can pay for itinstead of really being smarter than average This raises the question if we should makehigher education free like in European countries (eg Germany) Another factor is theindustry In some industries it seems to make more sense than in others to have a degree For example I have a degree in computer science Did it ever help me with finding a job Idont think so What I learned there was outdated the day I left the university (maybe evenbefore that)

As it is I cannot fully recommend taking on major loans with the hope of getting a betterpaying job I mean with or without a degree only a small percentage of people are getting awell paid job This means you can quickly find yourself with a college degree large debt andno job Maybe it would be smarter to first look for a job and then consider a degree if youcannot find one


Soul2Souls 15 hours ago

30K for a college debt It is Ok after all people owe much more for a car


dnokc 15 hours ago

Soul2Souls If your salary is $60K owing $30K for a vehicle is not a big deal However if your salary is $30K and your student loans are the same you are usinga small shovel on a very large hole


jst69 14 hours ago

Soul2Souls You seem to forget that you need a car anyhow So the actualcalculation would be 30k for college debt plus whatever you spent on a car Suddenly this doesnt look to good anymore does it


Sharran Coney 15 hours ago

I agree wit this article Unless you enter an undergraduate institution and major in a skill suchas nursing banking business nursing and engineering then it is important to go in planningon getting a masters JD MD and PHD Thankfully I went to a great undergraduate institutionthat had low instate tuition and scholarships It was a plus that my state had 2 schools in thetop 40 in the country I left school with 0 loans and was able to enter medical school GrantedI will have a crazy amount of loans for private medical school in the end it is financially worthit


markbkr



markbkr 15 hours ago

This article of course is consistent with the longshyheld belief of capitalists that the purpose ofour enormous public and private investments in education is to enhance ones economicprospects rather than develop the intellectually sophisticated knowledgeable thinkingcitizens necessary to function within a true and progressive democracy which in turnexplains the political popularity of the naive simplistic nonsense spewed by Donald Trumpand his apologists



markbkr If the goal is to learn for learnings sake I can buy used textbooks for$30 or less each read them and hire tutors to explain the parts I dont understandfor $20hour or less I have a limitless wealth of information on all imaginablesubjects shy including articles and lectures by the leading figures in every field shyliterally at my fingertips Theres no shortage of places in the real and virtual worldto discuss what Ive learned with those who share my interest for free or nearlyfree If people are expected to pay $10k+ per year to learn what they could learn ontheir own for a fraction of that the smart ones will look for some kind of economicbenefit for doing so


KawiMan 13 hours ago

JAE1983 markbkr Amen

Ive been an IT professional for 30+ years and do not have a college degreeDuring my career Ive interviewed countless job applicants with advanced degreesthat lacked the most basic of job skills In fact I would probably could have donebetter hiring a cashier from McDonalds than most of those applicants

I have read thousands of technical books reports and journals since my schooldays Education is a selfshymotivated lifetime process In fact I have learned far morein my career than from any school Ive attended When I was young I spentendless hours in libraries acquiring knowledge In todays world in the Internet ageinformation is readily available to anyone that wants it

I remember when I was working fullshytime at a bank attending night school at acommunity college the bank presidents son worked at our branch for a fewmonths He was a senior at USC and was dumber than a rock Ive known manylike this that came from privileged families that had the money to buy the piece ofpaper which goes to show a piece of paper is no indicator of competence


khartwigkarm 15 hours ago

to me it is I came here in 83 from Germany started taking classes part time got my MBAeventually All of this paid for by my employers I went from being a seamstress to beingcorporate controller of a manufacturing company But not everyones forte is this I knowplenty of people who are great trades people plumber electricians and the like who do greatand make more money than I do I am a female


dnokc 16 hours ago

There are more factors than the article addresses Higher education paysif the field ofstudy has worth in the marketplace The individual needs to know prior to committing howmuch the cost of their field of study will be Then there are the federally backed guaranteedstudent loans which are enticing many to enter fieldswhich have little to no worthAdditionally the H1B visa program floods the market with foreign graduates They will work forlesswhich in turn prevents salaries from rising




Steve Reinhart 16 hours ago

Employers are frustrated they cant find graduates with the right skills I am tired of readingthis overused comment WHAT SKILLS SPECIFICALLY ARE GRADUATES LACKING



Steve Reinhart Companies are refusing to train their people They wantsomeone to walk in and be as good as if they had been trained by the company forseveral years



Steve Reinhart Ive seen way too many who can barely read and write nevermind do math Most colleges offer resume polishing services that help competentstudents with formatting and allow borderlineshyilliterate ones to pass themselves offto employers as competent For the latter group the problem doesnt becomeapparent to employers until the first time the applicant has to write somethingwithout assistance which is often after theyve been hired



JAE1983 Steve Reinhart This is more a case of No Child Left Behind Wehave put all our focus on attacking teachers for not making sure the bottom quartilepass the minimum while giving no support for teachers pressing students to excel

This means a teacher who has 3 kids who fail will be in trouble even if 21 kids inthe class are performing above grade level

The result education in the US panders to the bottom


Dalt Wisney 13 hours ago

JAE1983 Steve Reinhart The basic skills that you mention shouldve beenmastered in high school not college One can go pretty far and never learn analyticskills Conversely employers want to pay the least amount of salary possible whilerequiring the a growing skillset


Austin Hogan 14 hours ago

Steve Reinhart

Right skills for employers Management and Technology Skills OR Engineeringskills In some cases they dont need them for these skills per se but the superiorwork ethic and intelligence these grads posses These grads command 60K+starting salaries and most of them hit five figures in 5shy7 years even those from



smaller schools (in fact they tend to do better)

No employer wants liberal arts majors shy they would rather have someone who cancode in Java than wax eloquent about the enigmatic smile of Mona Lisa


PSAGuy 14 hours ago

Steve Reinhart Grammar


SaxonChef 13 hours ago

Have you ever had to hire an employee If you had you would know about thelack of skills In my state the dept of labor runs an annual survey of all employersasking what the number one skill is for new employees 99 list WORK ETHIC asthe most important That means that they are having a difficult time finding thosemarks in their employees Specifically the people in question lack pretty muchevery important soft skill there is Professionalism timeliness work ethic of anykind whatsoever time management skills multitasking ability the list goes on avery long ways beyond these few

Knowledge or the ability to pass an exam does not in any way prepare students toactually use that same knowledge in an actual employment situation We teachmany things and often in a rich way but people are still entering the labor pool withvery few actual employability and career skills So our college graduates bring(perhaps) lots of knowledge and degrees but no idea of how to use it to makethemselves valuable to their employers


MurderousGod 16 hours ago

Unless youve actually been to college in the last 10 years or so then its hard for you tounderstand which is one of the reasons why politicians and even the media is out of touch onthis issue Youre LUCKY to have a Bachelors with only 30k debt nowadays At a stateschool thats 2 years if youre doing room and board

Go the most costshyeffective route to get a tech degree gain other skills like learning alanguage consider looking for work around the country or world (save up money for theoccasion) and you can be set regardless of how rich your family is or how many connectionsyou have



If you want effective workers grow them

For the most part the idea of apprenticeships has fallen apart Businesses are lazy and wantsomeone to fill a hole (like gum) and not go to the trouble of creating problem solvers

They rely on college degrees like a Good Seal of Approval so if that college says theypassed the classes that person has to be qualified

Note this Bill Gates would not be qualified in any school to teach an intro to computersclass He does not have the proper degrees





Billy Davis Depends on the school some schools use industry professionals asadjuncts I had one and it was one of the best teachers I had When hiring for thosepositions they look for industry credentials rather than degrees

The funny thing is the schools that would accept Bill Gates are NOT the bigexpensive state or private schools



MurderousGod Billy Davis The best teachers are those who have beenthere



Billy Davis MurderousGod Yep

Case in point shy My calculus teacher was an electronics engineer Rather thanrelying just on the equations in the book he took some of those equations andapplied them to real electronic circuits Electronics are one of my hobbies and hiswonderful examples opened many doors for me

Its a real shame there arent more gem teachers like him in the classroom


bbrooker 17 hours ago

Was my degree in Creative Writing worth it If the end measure is solely how much moneyyou make then maybe maybe not But I would have paid double for the experience theeducation the classes I attended and the critical thinking skills I picked up in thatenvironment You can forgive CNN Money for focusing solely on the financial aspect but youcant discount what an educated populace does overall for the economy and a democracy



bbrooker I learned a great deal more intangibles (life experience criticalthinking problem solving etc) from working and traveling in my late teens andearly twenties than I did from a college degree later on Thats a time of life where ayoung adult will learn and grow and develop a great deal as a person regardless ofwhat theyre doing College might (or might not) be the best way to learninformation or develop a particular professional skill but its not the only or even themost effective way to become a mature wellshyrounded adult


vallahal 17 hours ago

Best to go out of the country for a true experience



Its not only about cash flow





College is needed

in order to think more clearly and that is what it teaches


Frank Gentile 17 hours ago

In my humble opinion college is only worth it these days for students if you make the rightchoice based on your circumstances

1 If your family is wealthy Cost is no object pick the best school based on the rankings youcan get into Hopefully you can get into a top 20 school and get your ticket punched

2 If your family is wealthy and parents went to a top school Go to your parents school dowell your ticket is punched

3 If you play the school game right Get close to a free ride at the best possible school youcan get into your ticket is punched

If your situation is one of the above consider yourself very lucky

Now for the rest of us

4 If you are from an average family and you cant get a free ride at a great school Avoidprivate schools and see what your state schools have to offer Select a major that is indemand Do an undergrad with a major and minor and then get your masters degree parttime in a similar field Using an in state school and working part time through college you willlikely end up with less then 20k in student debt And that is with the masters degree finished The people you will compete with are likely from state and private colleges The ones fromprivate colleges will likely have 2 or 3 times your debt They will not be selected above yousimply for their school

I lived this option back in the early 90s and while my ticket will never be punched I enjoyedthe challenge and enjoy earning the respect of people with fancy school degrees I haveeven worked for companies successfully where I was the low school person in the room

5 If you would rather work in a trade Go for it hard work and more then often leads torunning a successful business that will always be in demand The best thing about it is nodebt from school

My advice is simple Make the best of your situation know that where the degree came fromwill always matter no matter what anyone tells you Value a state school education Why Because state schools have to meet the standards and have a ton of oversight They arerespected by most employers and are usually a big value

Good luck


ED11050 17 hours ago

Frank Gentile Completely agree made the mistake when I got my first mastersof going to a large outshyofshystate public university to study Business Administrationand receive $35K in student loans when I couldve just gone to a local 4 yearpublic school and gotten the same degree with no debt whatsoever Im making upfor it by getting my nursing degree and then pursuing my graduate NP degree withthe future organization Id be working for (hospital) chipping in at least half ofeducational expenses The field is incredibly rewarding pays well and a wonderfuljob



Most stock quote data provided by BATS Market indices are shown in real time except for the DJIA which is delayed by two minutes All times are ET Disclaimer Morningstar copy 2015 Morningstar Inc All Rights

Reserved Factset FactSet Research Systems Inc 2015 All rights reserved Chicago Mercantile Association Certain market data is the property of Chicago Mercantile Exchange Inc and its licensors All rights

reserved Dow Jones The Dow Jones branded indices are proprietary to and are calculated distributed and marketed by DJI Opco a subsidiary of SampP Dow Jones Indices LLC and have been licensed for use to

SampP Opco LLC and CNN Standard amp Poors and SampP are registered trademarks of Standard amp Poorrsquos Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC All

content of the Dow Jones branded indices copy SampP Dow Jones Indices LLC 2015 andor its affiliates

copy 2014 Cable News Network A Time Warner Company All Rights Reserved Terms under which this service is provided to you Privacy Policy

Show More Comments

These major universities and their marketing departments are incrediblysophisticated knowing how to prey on vulnerable 17 or 18 year old kids looking tohave the true college experience even its a major detriment to their financialhealth



Frank Gentile Going to a big state school is going to run you much more than20k total nowadays and you shouldnt act as if partshytime jobs are a given or even agood idea Im also not sure if theyre as respected as you say Theyre superexpensive for only being midshytier and tend to have the reputation of being partyschools

As the article states without making it as big a deal as it should be what matterstoday is not so much your school but your MAJOR and the skills you pick up onthe way

If you can properly explain your choice of college to an employer that also goes along way Employers want common sense and business sense people who thinkabout decisions before making them Judgement And going to a major stateschool Kinda questionable judgment


Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account

Mobile Site amp Apps

Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+



skilled workers despite the fact that there are record numbers of college graduates

The choice of college and major are more important than ever to students given the changing returnprofile writes Goldman

Nearly 155 million Americans are currently enrolled in two-year or four-year colleges according toCensus data Attending schools like MIT is still a huge resume and pay boost for life but Goldmanquestions whether millions of students at lower-tier schools would be better off doing other kinds oftraining

Share your story Do you regret going to college

Some degrees are more valuable than others Salaries are going up much faster for students whoattend the top universities and those who major in business health care and tech

Graduates studying lower paying majors such as arts education and psychology face the highestrisk of a negative return notes Goldman For them college may not increasingly be worth it

Related How he won 35 scholarships and went to college for free

A higher education revolution is comingOf course the benefits of a college education go beyond just landing a high-paying job Manygraduates find lifelong friends and experience huge personal growth

But its an expensive way to do that The pricetag for a year or study at a private college is now$43921 Even in-state public universities now average close to $20000 a year

Goldman sees a major revolution coming in higher education College costs keep growing Studentdebt is now over $1 trillion Employers are frustrated they cant find graduates with the right skillsand many college graduates are frustrated that they cant get better jobs

Employers are likely to become more open to hiring people who do other forms of training andeducation such as Lyndacom lessons (owned by LinkedIn ( Tech30)) or MOOCs (MassiveOpen Online Courses)

Companies like Facebook ( Tech30) and Google ( ) might also end up creating their own defacto degree programs so they can tailor the courses to exactly what they want

Related Looking for a better job Try the Steve Jobs approach

Related Why Americas most expensive college is a bargain

CNNMoney (New York)First published December 9 2015 1238 PM ET

LNKD

FB GOOG

Promoted Stories Recommended by Outbrain

Aged 35 he speaks 11languages - his 11tricks to learn anyhellipBabbel

Eight ExoticSuperfoods to BoostYour Immune System -ForhellipDummiescom

Amazing SanFrancisco LuxuryProperties You Have toSee tohellipMansion Global

10 Worst Cities in theUS to Visit ForChristmasParachute by MapQuest

Products Loan Amount

$200000Location

West Palm Beach FL

Disclosures

30 year fixed mtg All points 20 down

Update

Citibank N A

Dec 114183APR

$969$13802541250000

NMLS 412915


Next

Sebonic Financial

3750APR

NMLS 66247


Next

See more rates

30 year fixed

Taiwan Excellence

Made in Taiwan CelebratingExcellence in Taiwan

A diverse showcase of Taiwanese

products and creativity on display at

Grand Central Terminal in New York

Millions of job openings

Job title

Location

Find Jobs

Employers Post a Job

jobs by

Accounting

Finance

Marketing

Engineering

Management

Sales

Developer

Media

See all jobs

Promoted Stories

How to ChooseBetweenhellipThe Finder Singapore - ExpatsGuide to Singapore

Sponsor Content

Search for Jobs



Around the Web







More From CNN Money







Recommended by

Sign in

Newest Oldest








Financial Times











Most Popular Videos





Post comment as

Comments

































Advertisement

CNNMoney Sponsors

GoBankingRates

NextAdvisor






dnokc 13 hours ago






















Billy Davis





















jst69 14 hours ago








dnokc 15 hours ago



jst69 14 hours ago






markbkr


















dnokc 16 hours ago























Steve Reinhart







PSAGuy 14 hours ago














































College is needed














Good luck












Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+



Around the Web







More From CNN Money







Recommended by

Sign in

Newest Oldest








Financial Times











Most Popular Videos





Post comment as

Comments

































Advertisement

CNNMoney Sponsors

GoBankingRates

NextAdvisor






dnokc 13 hours ago






















Billy Davis





















jst69 14 hours ago








dnokc 15 hours ago



jst69 14 hours ago






markbkr


















dnokc 16 hours ago























Steve Reinhart







PSAGuy 14 hours ago














































College is needed














Good luck












Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+
































Advertisement

CNNMoney Sponsors

GoBankingRates

NextAdvisor






dnokc 13 hours ago






















Billy Davis





















jst69 14 hours ago








dnokc 15 hours ago



jst69 14 hours ago






markbkr


















dnokc 16 hours ago























Steve Reinhart







PSAGuy 14 hours ago














































College is needed














Good luck












Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+






dnokc 13 hours ago






















Billy Davis





















jst69 14 hours ago








dnokc 15 hours ago



jst69 14 hours ago






markbkr


















dnokc 16 hours ago























Steve Reinhart







PSAGuy 14 hours ago














































College is needed














Good luck












Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+








Billy Davis





















jst69 14 hours ago








dnokc 15 hours ago



jst69 14 hours ago






markbkr


















dnokc 16 hours ago























Steve Reinhart







PSAGuy 14 hours ago














































College is needed














Good luck












Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+




jst69 14 hours ago








dnokc 15 hours ago



jst69 14 hours ago






markbkr


















dnokc 16 hours ago























Steve Reinhart







PSAGuy 14 hours ago














































College is needed














Good luck












Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+


















dnokc 16 hours ago























Steve Reinhart







PSAGuy 14 hours ago














































College is needed














Good luck












Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+






















Steve Reinhart







PSAGuy 14 hours ago














































College is needed














Good luck












Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+






PSAGuy 14 hours ago














































College is needed














Good luck












Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+





























College is needed














Good luck












Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+




College is needed














Good luck












Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+









Show More Comments








Contact Us

Advertise with Us

User Preferences

Closed Captioning

Content

Business

Markets

Investing

Economy

Tech

Personal Finance

Small Business

Luxury

Media

Video

Tools

Site Map

Interactive

Job Search

Real Estate Search

Loan Center

Calculators

Corrections

Market Data Alerts

News Alerts

Connect

My Account


Facebook

Twitter

LinkedIn

YouTube

RSS Feeds

Newsletters

Google+

Date post:	29-Jan-2016
Category:	Documents
Upload:	msphix
View:	9 times
Download:	0 times

The Case Against Going to College - Dec

Documents