Join Early Retirement Today
View Poll Results: What is the highest level of education you have achieved?
High School 15 17.65%
AA/AS 3 3.53%
BA/BS 26 30.59%
Masters 29 34.12%
Doctorate 12 14.12%
Voters: 85. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Re: Education Poll
Old 08-19-2005, 12:12 PM   #21
Thinks s/he gets paid by the post
tryan's Avatar
 
Join Date: Mar 2005
Posts: 2,449
Re: Education Poll

Quote:
I'm guessing a fair share of those self-employed millionaires are doctors, lawyers or accountants.
Good point. *

I can see (given the poll results) I have a minority belief. * Which is fine ....

But as college costs continue to rise (exceeding inflation), I merely point-out that college is not like healthcare ... you don't have to have it. *

So while college administrators bump tuition 7 or 8% per year to pay the professional students (aka "professors") $60k/year to work 2 hours a day twice a week (I have an extended family member who does exactly this), I say "enough already".

Pick-up a trade. *Open a Dunkin or Starbucks. *And let the colleges price themselves out of a job.



__________________

__________________
FIRE'd since 2005
tryan is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Education Poll
Old 08-19-2005, 12:26 PM   #22
Thinks s/he gets paid by the post
 
Join Date: Feb 2003
Location: Mesa
Posts: 3,588
Re: Education Poll

My investment in a college education paid big dividends. I made a very good living using calculus, differential equations, probability and statisics -- applied to engineering problems on a daily basis. The technologies that fueled the succsess of so many businesses during the past two decades have been dependent on engineering developments in math and science. Your mileage may vary.

__________________

__________________
sgeeeee is offline   Reply With Quote
Re: Education Poll
Old 08-19-2005, 12:27 PM   #23
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Education Poll

Tryan,

I'm not sure where you get your college cost information from. Not sure where you are located, but most states have great public universities. I'm a recent college graduate. My undergraduate degrees in engineering and Spanish would have cost me about $12k total (if I would have paid for it - I had plenty of scholarships). My law degree at a top 25 law school was a little under $30k. Yes, for $42k, you too can get the education to be a lawyer. That is a pretty high-paying career. Or for the low low price of only $12k, you can be a Spanish speaking engineer. Not a bad career either, money-wise. I think I got a good deal on my education at great public universities.

Sure, you can spend $40,000 a year on some nice, pretty fancy private small liberal arts college. I doubt it will pay off monetarily. But it will be a great experience I'm sure. College just doesn't have to be that expensive. There are so many scholarships, grants and loans out there.

Quote:
Originally Posted by tryan
Pick-up a trade. Open a Dunkin or Starbucks. And let the colleges price themselves out of a job.
Good luck getting a franchise with no money, no experience and no college degree. All the franchises I've seen require the franchisee to have a significant portion of the funds for the business themselves (not borrowed money).



__________________
justin is offline   Reply With Quote
Re: Education Poll
Old 08-19-2005, 12:47 PM   #24
Thinks s/he gets paid by the post
SteveR's Avatar
 
Join Date: Jul 2005
Posts: 2,803
Re: Education Poll


retire@40 said:
Quote:
College courses tend to "train" you to be a good employee and focus too much on how to build your resume to apply for a job.
I would submit that the opposite would be true in most classes outside of the school of Business.

I went through my science-based BS degree in natural sciences and chemistry. I can assure you the general flavor of most professors was very anti-business. My two sons are both currently in a state university and are both very anti-business. I believe that most schools tend to follow the general attitudes of the media where Big Business is the enemy and is a negative influence on society because of the profit motive required for a business to succeed.

The US government has not demonstrated it is for business with all of the bureaucratic red tape that at times seems to be designed to prevent business from succeeding. This is in stark contrast to other societies (i.e., Japan) where the government actually helps business compete and succeed.

To say that college is just to teach one to write a resume is way off base. I have interviewed many many people in my career and I can assure you their college degree did not help them write a resume. It did allow them a means to get in the door of and employer and show them what they could do. The rest was up to them and their ability to play at the corporate games and learn what it takes to succeed in this environment. I saw it early, followed the “rules” did my time, made my moves around the country and climbed the ladder. I got off by choice and do not regret that. My degree got me in the door and allowed me to show my management what I could do. I can assure you my college professors had nothing to do with it.
__________________
Work? I don't have time to work....I'm retired.
SteveR is offline   Reply With Quote
Re: Education Poll
Old 08-19-2005, 01:13 PM   #25
Thinks s/he gets paid by the post
tryan's Avatar
 
Join Date: Mar 2005
Posts: 2,449
Re: Education Poll

Quote:

I'm not sure where you get your college cost information from. *
Wasn't quoting college costs ... but I can. *When I went 21 years ago, paid $6.5k/year (covered tuition, room and board). *Straight from the alma mater website - *tuition, room and board today: $25k. *Now let's account for inflation.

Using the inflation calculator at: *http://www.bls.gov/bls/inflation.htm. One dollar in 1984 costs 1.88 today. *So my $6.5k - then - should cost $12.22k - today. *Anything more is simply price gouging - especially since this is a state school (MA).

So in this example, my alma mater is charging twice what they did 21 years ago (even adjusted for inflation). *When - not if - do we rebel?


__________________
FIRE'd since 2005
tryan is offline   Reply With Quote
Re: Education Poll
Old 08-19-2005, 02:56 PM   #26
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Education Poll

Tryan,

From your earlier post, it seemed you thought college was "WAY over priced".

Here is my most recent experience with college costs. I'm currently a master's student at local State U. I'm taking 1 class in the fall and one class in the spring. My university has estimated my expenses for the year (not including the summer!) to be $16,000. In reality, I'll be paying a little less than $2,000 for the entire year for tuition, fees and books (the true college costs). The $14,000 of extra expenses are for living expenses for 9 months. Note that this is for a part time student! I'm sure your alma mater's total expenses have a similar breakdown. Much of the "total expense" of college at a state school are the living expenses. These can vary greatly. If you take the frugal path and get roommates in a cheap crappy apartment, eat cheap (ramen ), and have a part time job and/or summer job to fill up your leisure time, you won't spend anywhere near the school's published living expenses.

That being said, it probably will cost the full "living expenses" amount to live an upper middle class lifestyle like many college students have grown accustomed to during their youth.

I remember in high school, the guidance counselor's office had a poster that said a college degree will allow you to earn $1,000,000 more over a lifetime than the average high school graduate with no degree.

How accurate that poster is, I don't know. But the $20-30k in state school tuition that most would pay is a good "investment" in my book.
__________________
justin is offline   Reply With Quote
Re: Education Poll
Old 08-19-2005, 03:30 PM   #27
Thinks s/he gets paid by the post
SteveR's Avatar
 
Join Date: Jul 2005
Posts: 2,803
Re: Education Poll

Quote:
Do I Really Need a College Degree?
That would depend on personal career goals, but in general the higher the education, the higher the salary, and the better the career options and security. According to the Census Bureau and the U.S. Department of Labor, the median annual income for employees with a high school diploma was $23,000; for an associate’s degree $29,000; and for a bachelor’s degree $39,000. Holders of bachelor's degrees earn 60 percent more than workers with a high school diploma. In addition, employees with only a high school diploma were twice as likely to be unemployed as those holding bachelor’s degrees. Over a lifetime, the gap in earning potential between the high school graduate and those holding a bachelor's degree or higher exceeds $1 million, according to the College Board.
Source: http://www.back2college.com/library/faq.htm

Sort of backs up some other posters here.
__________________
Work? I don't have time to work....I'm retired.
SteveR is offline   Reply With Quote
Re: Education Poll
Old 08-19-2005, 03:47 PM   #28
Thinks s/he gets paid by the post
tryan's Avatar
 
Join Date: Mar 2005
Posts: 2,449
Re: Education Poll

Justin,

I am glad you can make the college finances work for you. Many other must also be "making it work" since these costs are a function of supply n'demand. Colleges are charging what people will pay. Society has put a premium on a college degree so we rush to get them ... and are willing to watch costs double and still gotta have it (smells like RE, gas ...) so we pay.

At the current trend college costs will nearly double yet again by the time my youngest hits the campus. My point is - "enough is enough" ... take the tuition $$ and use it as seed $$ to start a business.

At some cost the tables turn.
__________________
FIRE'd since 2005
tryan is offline   Reply With Quote
Re: Education Poll
Old 08-19-2005, 04:18 PM   #29
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
Re: Education Poll

Quote:
Originally Posted by justin
Good luck getting a franchise with no money, no experience and no college degree.
You are correct about the money issue, but the whole point of buying a franchise is that for most of them you don't need any experience and for almost all of them you certainly don't need a college degree.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Re: Education Poll
Old 08-19-2005, 04:48 PM   #30
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Education Poll

Quote:
Originally Posted by retire@40
You are correct about the money issue, but the whole point of buying a franchise is that for most of them you don't need any experience and for almost all of them you certainly don't need a college degree.
It sounds like you and I have been looking at different franchise opportunities. Most of the big name food establishments that I have looked at have certain requirements and qualifications to be met. Experience and/or education and financial.
__________________
justin is offline   Reply With Quote
Re: Education Poll
Old 08-19-2005, 04:56 PM   #31
 
Posts: n/a
Re: Education Poll

Quote:
College...tremendously useful in developing critical thinking.
I'll second that. A lot of my intelligence would have been wasted without my higher education.
__________________
  Reply With Quote
Re: Education Poll
Old 08-19-2005, 09:13 PM   #32
Recycles dryer sheets
 
Join Date: Feb 2005
Posts: 188
Re: Education Poll

I am one of those persons who are probably "overeducated," having spent far more time pursuing the next degree than I should have. Yet, I know that those degrees opened doors that would not have opened otherwise -- even though few of my jobs over the years were related to my academic training.

As noted by several posters, students of all income groups can get solid educations at state universities. Yes, those schools are not as "prestigious" as some of the "big name" universities.

I counsel really bright students from families with modest incomes to go to public schools for their undergraduate work. A "name brand" undergraduate degree is seldom worth the cost differential. However, it often makes good sense to go for a master's at a "big name." The business community does seem biased toward such degrees in senior executives.

__________________

__________________
playaman is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Personality Poll Martha Other topics 85 06-26-2010 06:33 AM
Saving for education cute fuzzy bunny FIRE and Money 66 05-25-2006 01:37 PM
Poll #1 Early retirees and your Marriage ESRBob Life after FIRE 2 05-25-2005 07:50 PM
Continuing Education During Career BigMoneyJim Young Dreamers 7 04-08-2004 05:50 AM

 

 
All times are GMT -6. The time now is 10:23 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.