Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Degrees of Value: Making College Pay Off
Wall Street Journal ^ | Jan. 3, 2014 | Glenn Harlan Reynolds

Posted on 01/07/2014 6:29:39 AM PST by iowamark

In the field of higher education, reality is outrunning parody. A recent feature on the satire website the Onion proclaimed, "30-Year-Old Has Earned $11 More Than He Would Have Without College Education..."

"Patrick" shouldn't feel too bad. Many college graduates would be happy to be $11 ahead instead of thousands, or hundreds of thousands, behind. The credit-driven higher education bubble of the past several decades has left legions of students deep in debt without improving their job prospects. To make college a good value again, today's parents and students need to be skeptical, frugal and demanding. There is no single solution to what ails higher education in the U.S., but changes are beginning to emerge, from outsourcing to online education, and they could transform the system.

Though the GI Bill converted college from a privilege of the rich to a middle-class expectation, the higher education bubble really began in the 1970s, as colleges that had expanded to serve the baby boom saw the tide of students threatening to ebb. Congress came to the rescue with federally funded student aid, like Pell Grants and, in vastly greater dollar amounts, student loans.

Predictably enough, this financial assistance led colleges and universities to raise tuition and fees to absorb the resources now available to their students. As University of Michigan economics and finance professor Mark Perry has calculated, tuition for all universities, public and private, increased from 1978 to 2011 at an annual rate of 7.45%. By comparison, health-care costs increased by only 5.8%, and housing, notwithstanding the bubble, increased at 4.3%. Family incomes, on the other hand, barely kept up with the consumer-price index, which grew at an annual rate of 3.8%.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Culture/Society; Editorial
KEYWORDS: college; survivingsocialism
Navigation: use the links below to view more comments.
first previous 1-2021-28 last
To: Slyfox
They all got a degree in philosophy because that was the only course offered.

What most people think is the most useless subject, as I once did, is actually the most valuable subject, along with theology.

The maxim of the supposedly benighted Middle Ages is true, "Theology is the queen of the sciences, and philosophy is her handmaid." --St. Thomas Aquinas.

It's understandable that philosophy has acquired a bad reputation in modern times, since modern philosophy is an incoherent mess. People are wise to reject it. Unfortunately, few have been exposed to good, classical philosophy.

21 posted on 01/09/2014 5:50:51 AM PST by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Stosh

My daughter is majoring in biology (pre-med) and dance at a top tier college and getting better than a 3.9 average. She is heart set on going to medical school. I told her to go dance - she will have a lot more fun, wont end up working for the government, and by the time Obama is through will make nearly as much money. Unfortunately she has her mothers hard head and is applying to med school....


22 posted on 01/09/2014 5:58:12 AM PST by Mom MD
[ Post Reply | Private Reply | To 10 | View Replies]

To: St_Thomas_Aquinas

a degree in modern philosophy allows you to ask why you want fries with that....


23 posted on 01/09/2014 6:00:05 AM PST by Mom MD
[ Post Reply | Private Reply | To 21 | View Replies]

To: proxy_user
In order to actually learn to read Latin and Greek easily, you still need the guidance of experienced instructors. And once you learn, and start reading classical texts, you still need guidance to understand the context and significance of what you are reading.

A solid, formal, classical instruction is of great value, but it's hard to find, and expensive. If you can't afford it, you can go a long way on your own. The Summa Theologica, for example, is available to read on-line for free. But that's the philosophical summum bonum. Fortunately, there are other sites, like the Thomistic Philosophy Page, that provide a good, quick overview of classical natural philosophy.

24 posted on 01/09/2014 6:11:21 AM PST by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
[ Post Reply | Private Reply | To 8 | View Replies]

To: St_Thomas_Aquinas

I had more in mind reading literary texts like Aeschylus and Pindar. Their Greek is really tough, you’ll be lost without an instructor. Even Plato can be quite difficult, with a very subtle use of conversational idiom.


25 posted on 01/09/2014 7:24:45 PM PST by proxy_user
[ Post Reply | Private Reply | To 24 | View Replies]

To: iowamark

Remedial English, Remedial Math, Remedial Science, Remedial Reading, Remedial Social Studies... heck some of those affirmative action kids probably needed remedial sex-ed.

lol


26 posted on 01/09/2014 7:27:26 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nascarnation

It is interesting that so few kids touch type these days. They spend hours at the computer but still do the ‘hunt and peck’ method to type. They waste so much time.


27 posted on 01/09/2014 7:34:29 PM PST by ladyjane
[ Post Reply | Private Reply | To 18 | View Replies]

To: ladyjane

wasting time is what yoots do best


28 posted on 01/09/2014 7:38:58 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
[ Post Reply | Private Reply | To 27 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-28 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson