College tuition kills innovation

[one...two...tree 2,762]

Daniel Honan pulls no punches in a new Big Think piece on the toll soaring educational costs have on our society: It's an innovation killer that is draining resources of potential talent:

"There is now more student loan debt in America than credit card debt (it is

estimated to be

$903.6 billion

). According to [NYU Stern School of Business Professor Scott] Galloway, 'it's getting to a point where no graduate of a four-year college or graduate degree program can go out on their own and start their business because they have this incredible weight, this Albatross around their neck called student loan debt…. the key to innovation in the most powerful economy in the world is letting young people have the freedom to start their own businesses.'"

An entire generation of entrepreneurs is essentially being silenced, Galloway fears. And, entrepreneurship is the most promising path — or perhaps the only path — with the massive shifts taking place in the global economy, . A new US Census report finds only 55% of young adults 16-29 were employed in 2010, down from 67% in 2000.

This may also be one more factor in the coming creative destruction of the economics of education, in which coursework is offered on a more cost-effective, incremental basis as part of lifelong learning.

Now is not the time to price people out of college, or silence their entrepreneurial visions. More accessible and cost-effective forms of education are needed if North American companies are to secure the talent and innovation needed to compete in the emerging hyper-competitive global economy.

http://www.smartplan...heres-how/18909

[Gary and Alla 3,694]

Given that almost no one on welfare has a college degree then I suggest we make the receipt of ANY form of welfare contingent on the recepient being enrolled in high school/and or college and that the government should pay for that. Eventually we will reduce welfare spending and increase education, and along with it innovation and development

Couple it with the fair tax to bring business INTO America and we are once again ON TOP!

we should pay for education, not welfare! we need to wean ourselves off welfare and then provide an atmosphere where educated people can achieve something.

[scandal 951]

Daniel Honan pulls no punches in a new Big Think piece on the toll soaring educational costs have on our society: It's an innovation killer that is draining resources of potential talent:

"There is now more student loan debt in America than credit card debt (it is

estimated to be

$903.6 billion

). According to [NYU Stern School of Business Professor Scott] Galloway, 'it's getting to a point where no graduate of a four-year college or graduate degree program can go out on their own and start their business because they have this incredible weight, this Albatross around their neck called student loan debt…. the key to innovation in the most powerful economy in the world is letting young people have the freedom to start their own businesses.'"

An entire generation of entrepreneurs is essentially being silenced, Galloway fears. And, entrepreneurship is the most promising path — or perhaps the only path — with the massive shifts taking place in the global economy, . A new US Census report finds only 55% of young adults 16-29 were employed in 2010, down from 67% in 2000.

This may also be one more factor in the coming creative destruction of the economics of education, in which coursework is offered on a more cost-effective, incremental basis as part of lifelong learning.

Now is not the time to price people out of college, or silence their entrepreneurial visions. More accessible and cost-effective forms of education are needed if North American companies are to secure the talent and innovation needed to compete in the emerging hyper-competitive global economy.

http://www.smartplan...heres-how/18909

In the years prior to World War II only privileged and wealthy Americans went to college. It was relatively rare for middle class and almost unheard of for poor Americans to go to college.

The GI bill, and the foresighted endowment of our system of public state universities, changed that. Returning servicemen back from the war enrolled in their thousands, they were followed by the broader middle class, and a generation of American prosperity ensued.

Like every other part of the American infrastructure we depend upon to stay competitive and keep our prosperity, we are allowing our post-secondary education system to disintegrate. We are literally unwinding a century of democratization of the education system.

[웃 910]

In the years prior to World War II only privileged and wealthy Americans went to college. It was relatively rare for middle class and almost unheard of for poor Americans to go to college.

The GI bill, and the foresighted endowment of our system of public state universities, changed that. Returning servicemen back from the war enrolled in their thousands, they were followed by the broader middle class, and a generation of American prosperity ensued.

Like every other part of the American infrastructure we depend upon to stay competitive and keep our prosperity, we are allowing our post-secondary education system to disintegrate. We are literally unwinding a century of democratization of the education system.

Well, it's a slight problem when local university around here is pushing $4,000 a semester not including books (roughly 10 to 12 semesters total).

My master's is costing me about $3300 per semester (2 classes).

And when I graduate I will be lucky to be a McDonald's manager

[I AM NOT THAT GUY 5,715]

Lots of college grads pushing carts at Walmart for a living. Meanwhile, I had two loads of gravel spread on my driveway last week, and both times, I had to add up the bill for the drivers so that I could pay them cash. Seems they can't add one hour at $85.00 per hour to the load ticket from the quarry. Neither could spread worth a dayum either, so extra work for me.

[fozzie 41]

The problem when everybody has a degree is it will be like no one has a degree. I'm glad I work in higher education and have been able to get my Masters for free but even that will not be enough one day.

[I AM NOT THAT GUY 5,715]

The problem when everybody has a degree is it will be like no one has a degree. I'm glad I work in higher education and have been able to get my Masters for free but even that will not be enough one day.

Too bad they don't seem to learn anything. Well, that is a generalization, but all that education just gets you in the door, and then the real learning begins, on how to apply some of that knowledge in the real world. The kids that have a leg up are the ones that find an internship in a local firm long before they graduate.