Is College a Rip-Off?

I went to a private school with tuition of upwards to $25,000 per year. I walked away after 4 years with only a small amount of debt, which I paid off within the subsidized 6 month grace period. I had a combination of scholarships and multiple jobs to finance my education. I fully paid my own way. My grades didn't suffer, and I graduated in the top 10% of my class.

College is only a ripoff if: 1) You choose the wrong college, 2) You don't place value in the experience just as much as the degree, or 3) You choose an irresponsible method for financing your education.

The fact is that your chances in this world are vastly better when you have a college degree, especially in this economy. It's also an important life experience that will help to shape you into a responsible, well-rounded adult.

@Anna
I think that's a little harsh to say that college is a ripoff if you go to the wrong college. Frankly, you're asking 17 and 18 year old kids to pick the "right" school out of thousands. That's a tough a decision to make b/c at that age figuring out what is "right" for you doesn't include trying to answer the college version of a multiple-choice question.

Also, the financial aid process can be vastly confusing for some people. Folks load up on loans b/c they believe they're making a proper investment. It's nice that you were able to work your way through school and graduate with little debt, that doesn't happen for everyone.
@Rob
Getting a college degree is not for everyone. I think that you can still earn a good living without it depending on what kind of life you decide you want to lead. I can only hope that people/employers open up their minds a little about what kind of workers they want instead of what kind of "college-educated" workers they want.

@Raven
I'm not saying that choosing the wrong college makes college a ripoff to be harsh. But if you go to a school that doesn't fulfill your needs, it won't pay off. It's that simple. You have 4 years in high school and a team of guidance counselors to help you decide which college is best for you.

In terms of financing your education, it's entirely in your hands whether you walk away with a pile of student loans or whether you walk away with little to no debt. The only exception in my opinion is law school or medical school. There are so many scholarships and programs out there to help you pay your way, both from your school and from outside sources.

It's not going to the wrong college. It's failing to make the most of whatever college you're at.

Do some colleges have better programs than others? Sure. If you realize that you would be better served by going to one of those colleges instead, do a great job where you are and try to transfer.

As with so much in life, long-term success is the result of persistent hard work and creative thinking, rather than making one "right" decision.

Many colleges are too expensive. But many excellent ones aren't. They're just often overlooked.

oops. I guess I had forgotten to log in before I posted those previous messages...

I went to a school which where tuition alone was over thirty five thousand a year, ad room and board to that and fifty five a year was the very least what it cost. It is now heading upward to tuition alone point of fifty grand by the end of this decade. Is that worth it?

I didn't pay for my own tuition. I always thought I would never had gone to that school had I had to pay for it myself, or even had to pay for part of it. I know people out of school with huge debt - they happen to think it was worth it as most of them are now currently employed and they attribute it to the school, but that having been said the debt they have will take some time to pay off making grad school impossible for most them for years to come.

The price of education, in my opinion, is too high. I don't know the answer to how to fix it, but I do see a trend — in the state I'm currently in — of increasing tuition for the state system and increasing out of state full tuition admissions over in state cheaper tuition admissions, which is counterproductive to the states goals. There is no over consumption here, there is only an increasing number of students who can't afford college, and therefore do not go to college.

Private universities will continue to increase their tuition, they are after all "for profit" instituions, something you need to be aware of before you attend one. Public universities need to be willing to spend as much on their grants and low interest loans as they do on their sports teams. Talk about students who might not belong in college.

This state (the public system), over the last ten years, has decreased their aid and grants significantly while increasing rates often my a thousand dollars a year or more, pricing out low income and lower middle income students. So the concern here isn't that too many people who really shouldn't go to college are just wasting our money, it's that too many students who should go will not be able to afford it.

We should have an affordable pubic system for everyone, with alternate programs for those who desire a more technical, less a academic curriculum.

This is a subject that I am quite passionate about. There is so much emphasis put on education. It is definitely way too expensive and the price difference is pretty dramatic compared to when I graduated from high school in 2003. There are alternatives, like going to school online, taking courses or getting specialized certificates. And I totally agree with Rebecca about "coasting". I know many graduates who have nothing to bring to their companies but knowledge that does not transcend into their position. They know theory but not practice and once they hit the world of working its pretty much like going to a vocational school, only your essentially getting paid to attend and you're getting only relevant information (finally). I also agree that college is not for everyone. But I think that the real issue is that there is a lot of conformity and little room for independent thinking in shcool that many people need to be able to exercise in order to learn at their best. In high school counselors do not have the time nor resources to give students extensive information about colleges, the importance of knowing yourself and understanding your strengths and what you're passionate about. And to be quite honest at that age you're not supposed to know. There are the lucky few that do but for the rest of us trial and error are all we can rely on for the most accurate advice and information.

Boy this issue can get quite extensive and one of my goals is to definitely help out with the solution.

From a cost/value standpoint college is a major ripoff....especially for middle class students who may not qualify for a scholly or loan. And not every school is in an area where a student can work enough hours to pay for it.

Those learning skilled trades often get such a financial headstart that, although college grads earnings outpace them in real earnings, they may never outpace them in wealth once you add in interest and compounding for the skilled tradesperson.

Add to that the fact that you could learn all you really need to know from college classes in about a year....or less. Just like most high schools, colleges put a premium on gaining general knowledge...which about 90% is absolutely useless in most peoples chosen careers (outside of medical, accounting, and a few other specialty fields). Applying specialized knowledge is not something taught very often. Yes co-ops and internships are very valuable but most of the teaching is done by the employer...not the institution of learning.

Don't get me wrong. I had a great time at the undergrad and graduate level and learned lots of things....just not much that I can specifically say I've applied that I couldn't have learned over a few months.....or even learned myself by reading some good books.

People need to realize that a college education is not a ticket to anything in today's world. Whether you go or not, you better figure out what you're good at, get some specialized skill/knowledge and go do it. If not reaching your potential is a pipedream. I suggest a good start is to go and read "Talent Is Never Enough" by leadership guru John C. Maxwell.