Miriam Salpeter at Keppie Careers responded to my last post about working too much with the observation that those leaving school these days with huge student loans to repay ($80,000-$200,000) may be part of the reason people work so hard. I have to admit that with that kind of debt dogging me, I'd probably work too many hours, too.
While some top tier schools are reducing the cost for low- and middle-income students, the fact remains that many families feel pressured to get their children into expensive universities in order to give that child a headstart on a career. But with tough economic times comes the reality that there are fewer loans for those willing to go into such debt.
Still, there are a number of successful people who don't go to Ivy League schools, or even attend a university. Look at Harvard dropout Bill Gates.
So, I guess I have a few questions: Do young people today really need to put themselves in a financial sinkhole to attend a top university? Can they be successful attending a less prestigious school? Or, is a college education even really necessary for success anymore? Will the day come when companies don't care about a university degree?
Thursday, March 27, 2008
Is Massive Student Debt Really Worth It?
Labels: Bill Gates, college education, dropout, student loans
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