Figuring out how to pay for college has quickly turned into one of life’s most complicated financial decisions.
This is not because the decision involves the largest number of dollars, although it’s getting there for many families. Instead, it’s because of a number of confounding factors. There’s the uncertainty about a student’s future ability to pay back student loan debt or whether spending twice as much for some schools will lead to a future that’s twice as lucrative or happy.
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Among the "many factors" that complicate paying for a college education is the fact that professors and admin staff are making big bucks. Check out the salaries at UMASS. Check out the workload. Appalling.
Paying big tuitions for mediocre colleges is the problem. What is a liberal arts or business degree worth from third tier schools? An MBA from tic toc tech is not going to get a high paying job. They hand out accredidations to eevry school and the degrees are worthless. Most of the jobs that used to train people to manage now require credentials. The whole system is an absurd fraud waiting to disolve like an economic bubble. Maybe it is the next bubble to deflate.
last section is best part of article. college prices have risen dramatically faster than middle class salaries and are no longer worth the price. DO NOT borrow the money. You will not get a job and will not be able to pay off huge loans. Only go to community colleges or state univ. This bubble will burst, just like housing . a BS is not worth $200k!!!
Community colleges are lower cost, but most people would still have to borrow money. Bunker Hill, for instance, would by about $5500 per year for 12 semester hours and two semesters. Attending during the summer would be more.
The real problem is that community colleges are 2-year institutions. If you want a bachelor's degree you have to go to, for instance, UMass Boston at $16,000 per year. Few families can come up with that without borrowing. Still, the debt will be much less than attending BU.
MBA's are a dime a dozen nowadays, and they don't mean all that much, although business degrees are among the easiest at any university. The best bets for good solid jobs is to do a little research and choose a degree in a field where there are shortages. Most of those, such as medicine and engineering, aren't for the lazy though.