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Subject Topic: College Grad lifetime earnings scam (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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Nailz
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Posted: 04 Feb 2010 at 20:52 | IP Logged  

Here is the article that was posted today online:

http://finance.yahoo.com/career-work/article/108755/whats-a- degree-really-worth?.html?mod=career-work

 

Colleges want you to believe that you will make close to a million more dollars in your lifetime if you are a college graduate (as compared to a non college graduate). The real number has been changed from this 1 million mark to between 250,000-450,000.  The College Board has taken their old number down and are admitting that it was high.  Shady.
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Zeratul
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Posted: 04 Feb 2010 at 21:07 | IP Logged  
What's so shady about that? Articles like this are a dime a dozen.
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Nailz
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Posted: 04 Feb 2010 at 21:12 | IP Logged  
I just mean that this College Board entity seems shady, not the article itself.
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RockyCali
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Nailz wrote:

Here is the article that was posted today online:

http://finance.yahoo.com/career-work/article/108755/whats-a- degree-really-worth?.html?mod=career-work

 

Colleges want you to believe that you will make close to a million more dollars in your lifetime if you are a college graduate (as compared to a non college graduate). The real number has been changed from this 1 million mark to between 250,000-450,000.  The College Board has taken their old number down and are admitting that it was high.  Shady.


Averages are misleading.  You cannot apply the average income or 1 million dollar gain to all Bachelors degrees in all situations.  Determining whether a BA degree is financially worthwhile includes determining....

1.  Opportunity Cost(from forfeiture of earnings to pursue education)

2.  Cost of Tuition and Fees

3.  Probable ending Salary

4.  Years of work left to work in the field (age, a 50 year old has much less time left to work in the field than a 22 year old)

It is incorrect to say all college degrees are worthwhile.  I know people with masters degrees that work for minimum wage. 
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