Did you know there are 30,000 Reasons why a college degree could be a really bad investment?
You’ve probably seen all the same statistics that I have-how if you get a college degree you’ll earn $1 million more during the course of your working life time versus someone with just a high school degree làm bằng thật.
There are several problems with this statistic, not the least of which is that it presents a false comparison, that is your only two choices are to get a 4 year college degree or a high school degree.
Good paying jobs that don’t require a college degree
This comparison of high school degree versus college degree leaves out an important third choice. You can get a two year Associates degree or even training that requires a year or less and get a good paying job paying job. (I’ll have more on these jobs later.)
It just isn’t the same
A friend of mine used to call a college degree “getting your ticket punched.” This was a shorthand way of saying a college degree was an entry point to a better life with better income and better security. Back in those days, a college degree was considered to be not just a piece of paper but a sort of magic amulet.
A luxury item
Because of what’s happened to the cost a college education, a college degree is no longer that magic ticket to a better life and has actually become something of a luxury item In fact, college graduates today often start life with $30,000 in debt and very little in the way of job prospects. In fact, there are studies reporting that 53.6 percent of recent college graduates are either under Lloyd or underemployed-that is working in jobs for which their degrees were not necessary (think Starbucks and telephone support centers).
Just think about it. How would you feel if you were starting life $30,000 in debt and couldn’t find a decent job? Would you feel that your college degree was such a great investment?
Your degree has to be relevant
You might actually earn that $1 million more over the course of your lifetime but only if you choose the right degree. Anthropology, philosophy, history, the humanities, and zoology are majors where graduates are least likely to find jobs that would be reflective of their education level. And this is according to government projections so, too, are the soft sciences such as psychology and sociology. Recently quoted by the Associated Press.
What degrees would be actually useful?
College degrees that could actually help you get a job and start paying back those student loans include things such as nursing, computer science or teaching – all fields where it’s easier to find jobs that are related to a degree.
Good paying alternatives
As I mentioned previously, there are alternative careers that pay well, offer great security and decent salaries. For example, you could become a cardiovascular technologist and enjoy a salary of $47,000 a year or better and with just two years’ training. Fifty percent of respiratory therapists earn between $44,490 and $61,720 a year. And again, the job requires only a two year degree.
The healthcare field is booming there are many different good paying jobs in the healthcare field and they offer great security. America’s population is aging and the more it ages the more health care it requires. I have seen statistics that every single day more than 10,000 Baby Boomers reach the age of 65 and they’re certainly not going to get any younger. As these people become 68, 70 or even older, they will require extensive healthcare, which opens the door to many new jobs.
As examples of this, jobs for radiologic techs are projected to increase by 17% in the 10 years ending in 2018, nuclear medicine technologists by 16%, and respiratory therapists by 21%. Just as important, none of these jobs would acquire a college degree.
An incredibly tough job market
As you probably know it’s an incredibly tough job market today. Given this, would you rather graduate from college $30,000 in debt and with practically no job prospects or get an associates degree and get a well paying job almost the minute you step out of school?
We can’t answer that question for you, but it is certainly one that you should be asking yourself.