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When Not Even The "1%" Can Afford College
Since in America one now needs a Bachelor's degree (if not a PhD in economics, of course) to get a job as a waiter, according to the following chart the US may soon have a severe waiter shortage considering the cost of college tuition has outpaced even the income of the 1%. As for everyone else, forget it - want that French Polynesian belly-dancing major? Prepare to become a debt slave for life.
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My degree says I am so smrt, but I feel so stupid.
This is getting so depressing that I think I'm going to click on one the ads for a hot russian bride that appears on the side of the ZH web pages.
Cue Zero making blanket statements about college education by grouping together engineering/science degrees with lib arts degrees in 3...2...1...
Education is like all the e-stuff (bitcoins included), you pay for free shit.
Aren't banks and universities sort of alike? Both make money providing nothing of real value leaving people indebted for life...
I'm putting my education to good work. Here is the value of PI out to many decimal places.
.
3.1415926535897932384626433832795028841971693993751058209749445923078164062862
08998628034825342117067982148086513282
30664709384460955058223172535940812848
11174502841027019385211055596446229489
54930381964428810975665933446128475648
23378678316527120190914564856692346034
86104543266482133936072602491412737245
87006606315588174881520920962829254091
71536436789259036001133053054882046652
1384146951941511609...
Now that is info you can use when you need to feed the family.
Now that is info you can use when you need to feed the family.
Funny thing, precise use of pi actually is, not that you'd need to memorize it.
"Cue NSF making blanket statements about college education and teasing out engineering/science from lib arts"
can they actually *do* that?
http://www.theatlantic.com/business/archive/2013/02/the-phd-bust-america...
also there's this
http://www.economicmodeling.com/2011/11/21/another-angle-on-supply-of-en...
http://www.theatlantic.com/business/archive/2013/02/the-phd-bust-america...
Author takes a very specific list of statistics and uses them for incorrect application and comes up with what are certainly highly flawed conclusions.. nice.
Only thing of note in the charts he references is how poorly post docs are paid in the US.
There's these to compare:
http://www.villainouscompany.com/vcblog/images/unemployment.gif
http://nces.ed.gov/programs/coe/figures/images/figure-cba-1.gif
When Lib-tards get large and in charge prices go way up and value goes way down.
That PhD in comparative Lit or Women's Studies (what is that, studying advances in vacuuming technique) is in such demand that employers wait outside college graduations looking for these folks. Having one of these degrees is a sure fire way to make it to the Welfare office, as a recipient.
"That PhD in comparative Lit or Women's Studies"
This argument really has no bite. Do you know how many PhDs they probably give out in those fields in a year? I would estimate less than 500. The vast majority of people major in Business, education, etc. Here's some help: http://nces.ed.gov/programs/digest/d13/tables/dt13_318.20.asp
112,755 is Other PhD. Most of the Others should be classified as Useless.
2009-10 158,558 7,739 9,778 14,321 9,370 9,233 2,245 105,872 100.0 4.9 6.2 9.0 5.9 5.8 1.4 66.8 2010-11 163,765 8,360 10,241 14,574 10,013 9,623 2,286 108,668 100.0 5.1 6.3 8.9 6.1 5.9 1.4 66.4 2011-12 170,062 8,733 10,525 14,974 10,554 9,990 2,531 112,755 100.0 5.1 6.2 8.8 6.2 5.9 1.5 66.3Why is everyone on here who's anti-education obsessed with women's lit? Women's lit is the go-to talking point. Fox news anchor is that you?
The question has to do with affordability and paying for college or paying off your loans.
Let's be optimistic, let's say that both the engineer and women's studies major find jobs, what is the return on each of those investments at all of the differnent levels (BS, masters, Ph.D.). That's what I would like to know.
Depends, which one gets hired by a 3-letter agency?
Get stupid. If you are sending your kids to college lose your job, collect unemployment, turn your assets into physical PMs, and get a "divorce." Your kids can now get scholarships and go to college for free. You will save more on tuition than you would earn during those years and when the kids graduate you can remarry and get a job. That's years of free vacation!
prolly right.
PhD - Piled High and Deep
Only a slave if one allows it at this point.
Evil requires the sanction of the victim.
Why not just forget the current system and goto oplerno.com. There is better choice in classes, faculty and the price point is lower. Faculty also make more money and own the IP they create. Higher Education is collapsing, but this new institution will thrive. Check it out.
College is Free now
http://www.mooc-list.com/
More like a total moron would go to college in America.
WHY NOT STUDY IN EUROPE?!!?
1. the quality is 500% higher than in America.
2. It's nearly free.
3. You can life in Europe for 4 years and learn other languages
You could do it for 50k in housing costs and food, which you could earn working a few hours a day during those 4 years.
Down-voted you because you sound like a retarded socialist (sorry for the redundant term). Nothing is free.
nearly free. In Europe we believe that the higher you educate your kids the more they'll be able to give back to the system when they grow up.
So no, it's not free. But it's not a chain arround your neck before you start.
By downvoting me, which I don't give a fuck about :), by downvoting me you said you like your own current system.
And if your don't... whell... than you're just somebody who hates everything without knowing why. And that's... near sociopath :)
stupid chart. the top 1% are gaining millions just from interest every year.
Never theless, they should organise a telethon to raise some money to support them.
Remember, having 5 cars, 3 houses and 2 wives costs money.
ZH is so full of ****.
Inflation is less than 2%. This is BS.
Inflation is less than 2%.
Apparently not shopping at the food stores and buying gasoline.
Tough to eat IPods.
2%..lol.
Thanks for a good Monday laugh.
2%
Riiiiiiiiiiiiiighhhhht
aybe Zerohedge isnt for you. CNBC will gladly fill your head with false notions like that to give you a sense of security.
+1 for the apparent sarcasm everybody missed.
Your personal inflation rate depends on your "class". If you are super-rich, your inflation rate is approaching 10%. If you're between super-rich and the bottom 99%, your inflation rate is probably around 5-7%. Upper-middle is around 5%, middle around 3%. Etc.
1973 ... Ah, those were the days
Keep on truckin
it's hard to believe that a large american system has been corrupted by money
It's not the cost of university .....it's the cost of therapy after listening to the socialists teach for 4 years that's expensive!
Yes, my statistics and physics professors just wouldn't stop talking about Marx.
weird cause mother said I didn't get enough marks
Groucho?
It goes on until the schools run out of debt slaves. Maybe they have figured it out that it's easier to live off the government tit and avoid school.
RE
A) The govt tit doesn't openly exists like you think....unless you have a child. Unemployment and food stamps even got cut under the "socialist" Obama.
If you sire a child for the state, they'll gladly freeroll you some cheap shit. Just another future ROI opportunity for them: either that kid will end up being a genius who contributes a shit ton of money in taxes (and a name that D.C. can tout as a "another feel good rags-to-riches" story), or he'll end up being another working class joe who the govt will take 37-47% of what he makes.
B) What those are really figuring out? The degree just isn't worth it for 90% of occupations. Why go to school for "x" major when your classmates ahead of you are still working 2-3 jobs that their HS peers can get (and the jobs "above" this don't pay much more!).
.gov fucking up everything it touches
just wait until they start fixing the weather
and almost everything else ... Impeach.gov
This smacks of legacy entitlements.
this chart isn't for the 1%, its for everyone else.
That top line should be called the Belle Knox Erection.
As the chart a couple weeks back showed the rise in the incomes of the top .01% accounts for nearly all of the gains in the top 1%. Excluding the .01%, the 1% incomes are as flat as anyone else's.
Come on guys. If you have straight A's and transfer you can go to UCLA for free. Princetion is only $20,000 more per year but they probably subsidize enrollment too. So what is up? Yellen and Draghi print the costs. Nobody is ever going to pay those debts so get your college education while it is free. That's what I say.
The perverse part is that with Obama's tuition forgiveness program, costs could actually accelerate higher at top schools. If I were the financial officer of one of the top universities I would consider raising prices like crazy since demand is so large relative to seats and remind the students that it doesn't matter what it costs since their payments are limited as a percentage of their income and they get their debt forgiven after 10 - 20 years anyway. Hey, why not $250,000 a year? The taxpayer ultimately footing the bill has no say in the matter and no ability to protest. Someone else is spending his money and there isn't a thing he can do about it.
This is eerily similar to the housing market of 10 years ago where loans get made that can't be repaid and the taxpayers gets the bill.
RE
The perverse part is that with Obama's tuition forgiveness program, costs could actually accelerate higher at top schools.
"tuition forgiveness program"? LOL Wall St will never let that happen, like they'll never let single payer happen, or a TRUE drawback of military spending happen. They have too much rentier cash on the line.
Wall street has nothing to do with it, these are Federal loans. The taxpayers gets hosed, not Wall St.
http://online.wsj.com/news/articles/SB10001424052702303887804579503894256072308?KEYWORDS=tuition&mg=reno64-wsj
This totally understates the cost of college increases. If you compare tuition only, I get 350% since 1990, per the link below. But the trend is to soak the families with "Fees". Fees at county and state colleges account for up to 30% of the cost. That way, the bureaucrats can brag about only a 2% tuiton hike without mentioning a 12% fee hike. Number crunchers may be fooled, but the families know. With each course come a campus fee, computer fee, general fee, facility fee, activity fee, supplemental fee, technology fee, and the biggest fee of all (14%), the General fee. If you have a car, add $250 for parking fee.
Insult to injury: My son's dept head professor makes 348k per year, at our state univ.
It looks to me as if higher education is being purposely eliminated.
Blame it on Wall St, since that's where the overpaid and bloated tier of university "Directors" send the money - for "investment".
Too bad that didn't turn out so well the last time, i.e. when they lost 1/2 of the portfolio in the 2008/2009 crash, and had to compensate with higher tuition fees. And thus cover their tracks of fiduciary malinvestment.
And THAT, boys & girls, is the REAL reason why university and community college fees have been climbing since 2008. [I got this revelation from Wall St types, who confirmed my suspicions]
p.s. Didn't Tyler tell you this? Or does he have to spoon-feed you, before you figure it out?
Both spoons, Mouth spoon and nose spoon.
....soon, the banksterz will figure out a way to financialize all of life. You'll just be billed one large chunk each month as "rent" to live on this rock.
We're almost there.
Squatters will be shot into the center of the sun.
Price Collusion.
The 1% often get subsidies and scholarships many of us don't get, mostly due to bloodlines or by donations. Where do you think that new library in the quad comes from (which is tax deductible!)?
Now is the bill higher? Sure. But alot of shi costs more now, but the 1% don't really notice. That's why they are the 1%.
Now when college gets more expensive and out costs the top 20% of earners? THAT'S when D.C. will get "concerned".
One must be careful with this chart. The 1% can still afford college (contrary to the headline). It just takes a greater percentage of their income than it used to.
" There are some ( actually a lot ) of things so stupid you have to be edgumakated to belive in them"
Don't know who said it.
Ever wonder why Harvard, Yale gives us such a unbroken chain of idiot?
Anyway, I see less and less going to idiot propagandist fairy mills as a good sign for 'Merka.
Why pay for college. College is free with online courses called MOOCS. Here is the list
http://www.mooc-list.com/