Dec 10 8:57 PM

Are degrees overhyped?

by The Stream Team @ajamstream

Students sit in front of Cooper Union for the Advancement of Science and Art. Cooper Union recently announced that for the first time in more than a century it will begin charging undergraduates to attend the school starting in the fall of 2014.

Spencer Platt/Getty Images

On Tuesday, December 10 at 7:30pm ET:

One trillion dollars. That’s the federal student debt college graduates are carrying. The expectation is that a degree will lead to gainful employment but is breaking the bank worth it when 40 percent of recent college graduates are underemployed and 16 percent have part-time jobs? Is the culture of degrees actually crippling instead of empowering America’s youth? Join us at 7:30pm ET to discuss.

On this episode of The Stream, we'll speak to:

Zac Bissonnette @ZacBissonnette
Author, Debt-Free U

Natalia Abrams @NataliaAbrams
Founder, StudentDebtCrisis.Org
studentdebtcrisis.org

Richard Vedder @theccap
Director, Center for College Affordability and Productivity
theccap.org

What do you think? Leave us your thoughts in the comments below.

View the story "Are degrees overhyped?" on StorifyAre degrees overhyped?As education costs rise, some still struggle to compete in the job market after graduation. Storified by AJAMStream· Tue, Dec 10 2013 13:37:09"I had a two thousand dollar loan, a four thousand dollar loan, a three thousand dollar loan, and then an eighteen thousand dollar loan." (Scholarslip, 2012)

"I really wish I knew more before I went in and got all this debt. My mother put herself through school while raising two boys on her own, and she's 46 years old and she's still paying off her loan." (Voices of Debt, 2013)

"What does an 18 year old know about... loans? I didn't really look at the interest rate, I didn't really care. I just wanted to get the money so they wouldn't kick me out of school" (Default, 2013)

As one in five American households grapples with student debt, one in two recent college graduates is working in a job that doesn't require a four-year degree.pewsocialtrends.orgThe lack of job prospects, threat of underemployment, and long-term financial consequences of student loans have many questioning the value of a college degree. For the first time in American history, the majority of unemployed went to college.static4.businessinsider.comWhile the unemployment rate among college graduates is half the rate among high school graduates, some argue there are other options for young adults hoping to avoid long-term debt.Don't Go to CollegewyattresearchtvSome point out there are plenty of career options that provide financial stability without college or the debt that comes with it. Certified through trade schools or apprenticeships: plumber, camrpenter, electrician, gardner, welder. Can't be outsourced @AJAMStreamLuis Marentes@AJAMStream Taking a blue collar job in wielding, painting, and construction as some of those jobs have higher wages than college-base jobs.B.LO during FinalsStudent debt currently varies from $4,450 to $49,450, meaning that if a student does want to get a degree, his or her decisions on where to attend, how to go about getting loans, and other choices can have an enormous impact on their long-term financial standing. Choosing a college and major based on ROI (return on investment) can help students decide how much to borrow depending on their expected salaries.

Overall, the cost of college is justifiable to many considering the boost it gives to lifetime earnings:

washingtonpost.com

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Are degrees overhyped?

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