Investing in a university degree only benefits the universities. Higher education is now a billion pound industry which has made many universities rich. Students are being robbed by the universities. They happily take money from students, and from the government, all the while promising a golden ticket to success. Nowadays, when many graduates go out into the real world their best hope is to find work in a bar, and still they find it a struggle to even get menial work! All that time, money, and effort wasted.
I have shown evidence in many of my previous posts of why I believe university is a bad investment.
Many universities, including the top institutions such as Oxford and Cambridge, actually use multiple choice examination papers, which saves them time and money. The quality of graduates, even from the highest universities, is frequently lamented by employers, and it seems many students only attend university because they can't think of anything else to do with their lives.
The university lecturers hoodwink students into thinking that their investment of time, money, and effort will definitely pay off. Meanwhile, economic turmoil rages outside, in the real world of work. Even though they are fully aware that graduates are unable to find work, the lecturers still say to the students "don't worry, it won't happen to you". The statistics say: oh yes it probably will.
University is the land of make believe, when it comes to investing. Statistically, only a few graduates make the big money after university. For the vast majority, it is a terrible investment which will never pay off. In this way, students are being robbed by the universities.
There are now so many graduates, that a degree qualification is devalued. The situation is so bad that there has been talk of employers thinking of only giving Phd graduates a chance to get a job. A Phd is an extra 3 years of study!! This would be an investment of 8 years assuming you pass all exams the first time around, (2 years A=Level + 3 years degree + 3 years Phd). This is a loss of £200k earnings (£25k x 8), also, student debt would be well over £25k. So, this means a Phd graduate would enter the job market almost a quarter of a million pounds behind a non-graduate. The government has claimed a degree would give graduates 100k more over their careers than a non-graduate, but by the above calculations, this would still leave them around £150k behind. Most graduates, even Phd graduates cannot find a job at all, especially not a graduate level job, so the reality is more likely to be that graduates will slip further and further behind non-graduates. Rather than earning £100k more than non-graduates, they are far more likely to earn £100k less, as they will not have had a chance to gain industry experience, or invest in things such as property. Plus they are deep in debt; being well over 25k in debt with no job, is no joke. Government funded student loans have excellent repayment terms, but most students also take out hefty commercial loans, and you know what happens if you can't pay those off.
I have shown evidence in many of my previous posts of why I believe university is a bad investment.
Many universities, including the top institutions such as Oxford and Cambridge, actually use multiple choice examination papers, which saves them time and money. The quality of graduates, even from the highest universities, is frequently lamented by employers, and it seems many students only attend university because they can't think of anything else to do with their lives.
The university lecturers hoodwink students into thinking that their investment of time, money, and effort will definitely pay off. Meanwhile, economic turmoil rages outside, in the real world of work. Even though they are fully aware that graduates are unable to find work, the lecturers still say to the students "don't worry, it won't happen to you". The statistics say: oh yes it probably will.
University is the land of make believe, when it comes to investing. Statistically, only a few graduates make the big money after university. For the vast majority, it is a terrible investment which will never pay off. In this way, students are being robbed by the universities.
There are now so many graduates, that a degree qualification is devalued. The situation is so bad that there has been talk of employers thinking of only giving Phd graduates a chance to get a job. A Phd is an extra 3 years of study!! This would be an investment of 8 years assuming you pass all exams the first time around, (2 years A=Level + 3 years degree + 3 years Phd). This is a loss of £200k earnings (£25k x 8), also, student debt would be well over £25k. So, this means a Phd graduate would enter the job market almost a quarter of a million pounds behind a non-graduate. The government has claimed a degree would give graduates 100k more over their careers than a non-graduate, but by the above calculations, this would still leave them around £150k behind. Most graduates, even Phd graduates cannot find a job at all, especially not a graduate level job, so the reality is more likely to be that graduates will slip further and further behind non-graduates. Rather than earning £100k more than non-graduates, they are far more likely to earn £100k less, as they will not have had a chance to gain industry experience, or invest in things such as property. Plus they are deep in debt; being well over 25k in debt with no job, is no joke. Government funded student loans have excellent repayment terms, but most students also take out hefty commercial loans, and you know what happens if you can't pay those off.
The daily mail ran a story on how the majority of recent graduates find it increasingly difficult to find a decent job.
Even older graduates who graduated many years ago and actually had a job, such as architects and quantity surveyors, are having to join the dole queue. So, don't think that even if a graduate has been established in a chosen field for many years, their job security becomes "safe". They are prone to redundancies and long periods of unemployment just like everybody else.
The BBC website has a good discussion area on whether a degree is a good investment.
I am not against the idea of education and learning, I'm just saying that university is too expensive in terms of time and effort for what the end result is. There are some professions for which a degree is essential such as being a doctor or dentist, and these have a far better chance of being a good investment, but for most degree courses, prepare to get robbed by the universities. If you enjoy learning and believe in becoming educated, find ways of gaining your knowledge, in cheaper, faster ways.
The following blog article I came across at GenerationX Finance, gives a whole range of financial educaton courses you can take online for free. You can learn, without being robbed by the universities.
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