Earning a college degree will leave many young adults in debt for the next... oh, let's just say, the rest of their lives. And you can wrap your head around that, at least to some extent, if you think the investment you make in that degree (which generally falls between $100,000 and $200,000) will be the ticket to higher salaries, quicker promotions, and a better quality of life.
But is that just a lot of Ivy Tower propaganda? Does college really prepare you for a career?
GlobeSt.com, a commercial real estate media site where I once worked, suggests in a post this week that it doesn't, at least not in real estate. In "Baptism by Fire: On-the-Job Training Best Schooling for Young Brokers," John Salustri notes that brokers often benefit most from experience.
When Clark Finney, 29, joined Cushman & Wakefield in 2007, he came with a newly minted business management degree from Washington & Lee College tucked in his resume. But he says his real education started with his first day on the job, under the guidance of executive vice chairman John Cefaly and his team.
“The business major doesn’t really translate hugely into real estate,” says Finney, who started as an associate and after three promotions is now senior director. “Going to Washington & Lee helped because as a liberal arts college, it gave me a full background in writing, properly drafting documents and analyzing what you’re reading.”
But in terms of professional development, he credits “everything I’ve done to John and to
[vice chairmen] Rob Lowe and Gus Field. They take great pride in mentoring junior team members. And from Day One they gave me the opportunity to actively participate in their transactions.”
But as parents nationwide trek to stores like Target and Bed Bath & Beyond to stock up on all of the stuff their soon-to-attend college kids need for the year -- and spend countless hours comparing the merits of raiding the 401k versus taking out a 7.9 percent federal Parent Plus Loan to pay the little darlings' tuition bills -- it's worth considering once again.
Here's a Great article I picked from the Guardian Newspaper in the UK.
If anyone needed further proof that the Education Market is completely Global today;this is it.
Because of extremely expensive Education in the UK(and massive Debt Burdens it causes);British Students are going to Ireland,Netherlands,Singapore as far as China for High Quality Cheap Education.
As someone who has experience with Education Systems in Different countries I can say without any Doubts that the American System of Education is the best.
But that does not mean that you should price yourself out of the Competition as the Competition for Education is GLOBAL today.
I am a counsellor for my University (its something I do voluntarily)and I wish could Tell you how many bright kids (from all over the world) would like to study at American Universities but cant because the costs are prohibitive.
So instead they end up going to Australia,New Zealand,Canada,Singapore,Hong Kong,the UK or parts of Europe where education costs a Fraction of what it does in America today and the education is nearly as Good as in America (Professor's are all US educated).
College Costs have to come down sharply,no question about it. Otherwise,consumers will go elsewhere . Remember This is a voluntary service at the end of the day and nobody can be forced to go to College.
As for the White paper you linked to I think its all crocodile tears-These companies are sitting on Trillions of Dollars of cash-Why cant they use some of that cashpile to educate their most promising employees? Or provide them with Cheap ,1 percent Loans?They used to do this in the 1970s and 1980s,Why not today?
In new research from Public Agenda and the Committee for Economic Development (CED), a number of America's business leaders say that skyrocketing tuition and a growing skills gap could have serious consequences for the nation's economic future. Corporate executives may consider America's higher education system the best in the world, but this report suggests that they believe the challenges of cost, quality and accountability present great threats to the nation's economic prospects.
The report, Hiring and Higher Education, is based on qualitative research by Public Agenda commissioned by CED and adds an important voice to a growing debate about the role and value of America's higher education system in fueling an economic recovery.
There will always be exceptional people who can succeed in most any field, except those requiring a state license or such, on only the strength of their determination, intelligence and convictions. But the rest of us need a little help: some kind of degree, certificate or anything that validates our ability to do a job.
For way too long people have looked at a College Degree as a sure-shot way towards Upwards Income mobility and now suddenly you want to discourage people from Pursuing the American Dream???
Well said, college prepares young people many ways in life. It's not necessary for everyone, but I think it's the best option (note, just an option) for the majority.
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