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Strategies & Market Trends : Aardvark Adventures

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From: ~digs	12/15/2006 12:35:44 AM
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The Biggest Gamble of Your Life (Is College Worth it?) michaelrobertson.com n 2005, young people (ages 18-25) in the US gambled $67 billion. Not in Vegas or online poker rooms, but on a betterment program called college. Their hope is that the monies they are spending will allow them to earn more money over their lifetime. Many are paying for this wager by amassing a mountain of debt that will take years to pay off. Is it a good wager? Conventional wisdom says so, but with $67 billion on the line (and that's debt accumulated in just one year by college attendees) we should have more than conventional wisdom or parental pressures to guide the way to smart economic decisions. REEF’s economic analysis shows that college is a financial mistake for more than half of the American young people today. Shielded from scrutiny in this transaction by an assumption of 'public good' are universities and college lenders who many expect to provide guidance to these young people. While the data hints at ways for some individuals to improve the odds of a positive financial outcome, half the people attending college should hear the frank counter-intuitive advice, "Don't go to college."

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