Higher (post-secondary) education, particularly four-year college, is an expensive investment that many people can’t afford to finance out of pocket. The most common solution for this is to take out student loans, whether it be through the government or through banking institutions
Such an option to take out loans is needed because it helps individuals further their education and increase, in turn, their income and socioeconomic mobility. However, while student loans make education more accessible, they also carry significant downsides
Any questions? Drop them under this comment, and we’ll try our best to answer them
Quirky-Marsupial-420 on
If you have a field of study with a high earning potential, then yeah.
If you want to take out 75k in student loans for degrees that don’t pay well, then no. Not worth it unless you’re already privately wealthy.
pakmakaveli1 on
We need an educated workforce, but market forces need to drive how much it costs vs the government. Perhaps for those not in specialized fields we can reduce the number of years from 4 to just 2 years. I believe there is still value in kids going to college to enhance their world view. But the blank check from the government has to be dialed back.
NeedleworkerPrize253 on
I think it depends on the person. I had a friend who installed carpet and wired houses for cable. I remember when he decided he was going to get an MBA. I don’t think spending that money was worth it for him considering his crippling dyslexia. But the diploma mills signed him up anyway and the student loans cant be forgiven. making those loans available to everyone was predatory, because there are no longer guidance councilors that protect people from making those bad decisions. You cant tell someone they are not college material because of racism or god knows what other reason. So these one size fit all perspectives are just meaningless.
Uptons_BJs on
This article needed to separate out a few different groups. But overall, assuming you are enrolling in a good program with good prospects, in the US context, the answer is most likely:
* Yes, for Elite private schools, especially if have financial aid (think: Harvard, Yale, Stanford, etc)
* Yes, for public state school, in state tuition (think: SUNY, University of California, etc)
* No for crappy, low ranked not for profit private schools
* No for any for profit schools.
5 Comments
Higher (post-secondary) education, particularly four-year college, is an expensive investment that many people can’t afford to finance out of pocket. The most common solution for this is to take out student loans, whether it be through the government or through banking institutions
Such an option to take out loans is needed because it helps individuals further their education and increase, in turn, their income and socioeconomic mobility. However, while student loans make education more accessible, they also carry significant downsides
[Learn More](https://www.fascinatingworld.org/post/is-higher-education-worth-the-risk-of-taking-out-student-loans)
Any questions? Drop them under this comment, and we’ll try our best to answer them
If you have a field of study with a high earning potential, then yeah.
If you want to take out 75k in student loans for degrees that don’t pay well, then no. Not worth it unless you’re already privately wealthy.
We need an educated workforce, but market forces need to drive how much it costs vs the government. Perhaps for those not in specialized fields we can reduce the number of years from 4 to just 2 years. I believe there is still value in kids going to college to enhance their world view. But the blank check from the government has to be dialed back.
I think it depends on the person. I had a friend who installed carpet and wired houses for cable. I remember when he decided he was going to get an MBA. I don’t think spending that money was worth it for him considering his crippling dyslexia. But the diploma mills signed him up anyway and the student loans cant be forgiven. making those loans available to everyone was predatory, because there are no longer guidance councilors that protect people from making those bad decisions. You cant tell someone they are not college material because of racism or god knows what other reason. So these one size fit all perspectives are just meaningless.
This article needed to separate out a few different groups. But overall, assuming you are enrolling in a good program with good prospects, in the US context, the answer is most likely:
* Yes, for Elite private schools, especially if have financial aid (think: Harvard, Yale, Stanford, etc)
* Yes, for public state school, in state tuition (think: SUNY, University of California, etc)
* No for crappy, low ranked not for profit private schools
* No for any for profit schools.