Welcome to this week’s Jay Talking video.
We may have already reached the margin of diminishing returns when it comes to money spent on college.
A degree from a private school is now astronomically expensive, and there are many graduates that will tell you it is just not worth it.
A student shared with me that she was paying $600 a month in school loan repayments, while only earning $35,000 dollars per year.
Another private-school grad told me he is now making twice as much waiting tables as he was when he was working in his field of study, and that college had been a waste of time and money.
Some say that there is more value to a private school education than the money it earns, and that there is some sort of balance and maturity that one absorbs in college. Perhaps that’s true, but it is possible travel or the military could provide these abstract benefits.
My point is that maybe society should retool itself so students are not pressured to attend pricey schools and spend time and money studying subjects they will never need.
Do you think that expensive private education is pricing itself into obsolescence?