In 1980, a house cost $64,000. In 2022, a house costs $336,000, a markup of 425% due to inflation. In 2009, there was a currency that existed in Zimbabwe. The amount? 100,000,000,000,000 Zimbabwe Dollars, equal to $300 US dollars.
This is an extreme form of inflation, and how finances can spiral out of control.
Comparatively, college tuition has increased a whopping 1200% since 1980. So is it really worth it to attend college anymore?
We always hear about the student loan epidemic but how bad really is it?
Well, the average college graduate expects to make $104,000, but the reality is they come out making $55,000. Today’s American system rewards memorization. But memorization is a skill that is no longer useful compared to decades prior. Finland has the best educational system in the world due their process of grading.
Colleges both private and public are tax exempt organizations, which have massive endowments of tens of millions.
Yet if you run a cost comparison in attending todays modern universities, it simply doesn’t make sense to spend 100,000 on most degrees. How is it possible a 17 year old kid can receive $100,000 in loans and not run into problems?
According to Max Schwartz of DailyCollegian.com:
College is a big, fat scam. I come from a family of educated people, and my relatives with doctorates and masters outnumber the obsolete bachelor’s degree-holder. That same degree that once promised a leg up is now worth job security at best. I see first-hand, at family dinners and networking opportunities just how much my college education is being put to use; spoiler, it’s not much.
There are benefits to going to college, but are those benefits outweighed by the massive cost it takes to go to college? It is a personal choice that only you can decide.
Pat’s take on the modern college reality:
https://www.youtube.com/watch?v=2n0OTyU50cY
https://www.youtube.com/watch?v=tXgCG50YoWs
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