I attended one semester of college and decided it wasn't for me. I currently have a job where I make between 95,000 and 100,000 a year with no car payment or house payment. I have a daughter who has one year left in college and then will go to dental school. All of which will be paid for in full so she won't have any debt what so ever. I've always said college isn't for everybody.

If I had a boy who was an ok student, I encourage him to go the trade route. We will always need plumbers, electricians, etc. You can end up owning your own business, making good money.

Love trade schools as a great option! What do you do for a living?

 

I have an associates in applied science. I'm a chemical plant operator.

Personally I thnk the cost of college is a joke and has gone way out of control.

The actual cost for a semester of college is ridiculous and you will never convince me the cost is justified for what the student is given. If that is the case then elementary school should cost about $12,000 a year per student.

Unless you go to an ivy league school or a select few schools outside of that most people over pay for their degree just to get a name on their degree. If getting a name on your degree is important financially speaking you are better off going to a junior college for your first two years at a cheaper price and then transfering your credits over to the big name public university to get the name on the degree .

 

Also a lot of parents and students make the mistake of sending their kids to either liberal art colleges or private universities such as Thomas More only to major in degrees with low wage job opportunities. I honestly believe the universities and the government are doing harm to our economy by allowing these kids to rack up debt with little ROI . The next major bubble in this country is the student loan industry. I see a very negative outlook in this sector and most economist would agree with me .

 

I also believe its a mistake to pursue your Masters degree before you sure up a job with your undergraduate degree . Most good employers will help you with a post graduate degree if you are a valuable employee. The experience you gain while working puts you light years ahead of kids going from undergrad to graduate programs. Kids graduate with MBA's and no experience and get frustrated starting from the bottom. Meanwhile the kid who has 2-3 years experience and getting his masters either at night or online is earning much more money. Now again the exception to this rule are ivy league graduates with built in networks most students just don't have .

Very interesting thread. Here are my random thoughts:

 

--Like it or not, the sheepskin gets you in the door. Period.

--Guide your kids to find their path to the sheepskin with the least amount of debt as possible.

--Love the trade school option but I don't know enough about it. It will most likely be the path for one of mine.

Sheepskin gets you in the door 100%. To many kids spend to much money on name and higher priced schools not realizing once your in the door it doesn't matter to future promotions. Sheepskin gets you in the door and your work gets you promotions. For most employers you having a degree just shows you have the work ethic to complete a task.

I am a strong proponent of education. My philosophy was get in and out of college as fast and as expensively as possible-I came out of college with no debt and $200 in savings. I completely agree that the degree is all that matters, not the institution(unless, perhaps, you are one the elite super intelligent individuals). The degree opens the door of opportunity. It is then up to the individual to demonstrate the will to excel. It has been my experience that the degree not only provided a good solid long term job, but opened the door to other business opportunities along the way. All that being said, some of the most successful people I know, didn't come close to a post high school education. Those individuals demonstrated the ability to work 24/7 and had the will to succeed at all costs. They have the ability to communicate at all levels and make everyone feel important. They refuse to fail. In summary, an education is the safe route to go with the highest percentage of success for normal people. If you don't pursue the education route, be prepared to work with a relentless will to succeed.

For most employers you having a degree just shows you have the work ethic to complete a task.

 

So because I don't have a degree, I don't have a good work ethic? I don't agree with that line of thinking at all.

I grew up in a family of electricians, and after high school, I worked as an apprentice electrician during summer break, Christmas break and then part-time. I have a cousin, my same age, who went to work full-time as an electrician. He married early, had kids, and he has had a nice life. I worked full-time eventually and graduated with an undergraduate in accounting. It took me probably five to ten years to earn what I would have earned as an electrician, but I worked as an industrial engineer. However, I went back to school at night and obtained an MBA in Finance. That opened up doors at the next level for me. Probably, at year 20 of my career my cumulative earnings matched what they would have been as an electrician (unless I opened my own shop), but since they have gone way higher. I really enjoyed electric work, but also that kind of work takes a toll on one's body, and it would be a lot harder now.

 

Because I went to school part-time and worked, I had very little college debt. My wife is a schoolteacher, and I wonder why anyone would do that. She took my same path to her education...worked during both her undergrad./grad/national board certification, but the pay does not even come close to making up the investment and the hours she has to put into it.

So because I don't have a degree, I don't have a good work ethic? I don't agree with that line of thinking at all.

 

If you don't agree with that thinking, that's all fine and dandy. I think the point was, a manager who is doing the hiring may have that perception whether it be true or not. You would not get an interview with my company without a degree and maybe even a masters. Like it or not, it is a fact. Especially when fortune 500 campaniles are looking for employees. They have the pick of the litter.

If you don't agree with that thinking, that's all fine and dandy. I think the point was, a manager who is doing the hiring may have that perception whether it be true or not. You would not get an interview with my company without a degree and maybe even a masters. Like it or not, it is a fact. Especially when fortune 500 campaniles are looking for employees. They have the pick of the litter.

 

How many people work for Fortune 500 companies? I wouldn't try to apply to a Fortune 500 company without a degree, that's a no-brainer. If that is the mentality that managers have (I'm a manager), then IMO they are missing out on the opportunity to hire GREAT workers.

Agreed, especially as those jobs (machinists, pipe fitters...) become more specialized and/or this gray generation begins to retire. There will be a shortage of qualified electricians, plumbers, carpenters, steel/iron workers. Too often, these are jobs scoffed at as jobs for the uneducated, or dumb....I just paid a plumber $150 to come to my house to fix a leak that took him all of 10 minutes. Who's the dummy now? My Dad subsidized us by wiring houses on the side.

You can thank our political leaders for this which ultimately is at the root cause of the debate of this thread. A college degree is becoming the new high school diploma because "we want every child to have an opportunity to go to college." Ugh, no you don't. That is not how the system runs most efficiently. You encourage trade schools and specialized programs.

So because I don't have a degree, I don't have a good work ethic? I don't agree with that line of thinking at all.

 

I never said you didn't. I said a lot of employers for certain entry level positions take that approach. There are always exception to the rule and employer will sometimes look at experience as well. But for the most part having a degree is just another check boxed when they are looking at resumes to shrink down the list.

A college education is not a waste of money, for many reasons. With that said, I think people spend too much money to attend certain schools.

 

For example, you might get a better education from Centre, Transy, or some other $30,000 school. But chances are you'll end working with and/or next to a co-worker with an education from one of our state's schools (Kentucky, Louisville, WKU) and on the same career path. The college education is not overvalued, but you need to be careful with choosing the right school.

 

I realize that there are a lot of Centre & Transy alums on BGP, and I don't mean this as any disrespect towards you. They're both fine schools, but horribly expensive, in my opinion. I know many alumni from both schools, all of which are outstanding individuals and very successful. But the bottom line is that most 18 year old kids cannot afford that type of tuition. So, if you don't get a full ride and your parents/family aren't willing to foot the bill, you're in trouble.

But for the most part having a degree is just another check boxed when they are looking at resumes to shrink down the list.

 

I don't disagree.