Changing Attitudes on the Value of an Education
Politics / Social Issues Jul 01, 2010 - 04:53 AM GMTBy: Mike_Shedlock
In response to Teenagers Scared Over Plight of their Parents; Attitudes - Bernanke's Biggest, Most Futile Fight which was based on a comment on my blog by someone using the name "Nancy Drew", please consider this response from "Projammer"
Hello Mish
Regarding your comment "Attitudes towards education and education costs have certainly started to change with some starting to question the value of an education and what they are willing to pay" ...
My daughter is 14. I looked at the cost of the private, church college I attended, in which she has expressed an interest. Four years is $100,000. We cannot cash-flow that. It will be more in 4 years.
My wife and I are programmers. She has mentioned an interest in learning to program. I'm considering teaching her this, teaching her how to run her own business, and skipping college altogether.
If not programming, then I can look for other "sole-proprietor" friendly businesses involving skills that she can learn. I can get her a lot of targeted education in any field she wants for a fraction of $100,000!
I'm putting money aside for college. But my doubts as to its value are growing just as quickly.
Real Life Attitudes vs. Fed Platitudes
Real life experiences are worth far more that platitudes from Fed-sponsored PHDs on who should be commenting about economics.
I commend both of the above because refusal to pay more than an education is worth. Changing attitudes are a necessary ingredient to bringing down the cost of an education, currently an absurd sum of money, for the sole benefit of overpaid administrators, college professors, and dare I say it, to a lesser yet still significant extent (primarily because of untenable benefit plans), ordinary teachers in many school districts across the country.
This is not a slam against teachers, but rather against public unions, bureaucrats, and politicians who have put many skilled teachers in an unwinnable situation.
Projected Education Costs
It is because of attitude changes by parents and teenagers regarding the value of an education, that I expect costs of education to drop significantly in the years ahead.
If you are a parent considering "locking in" the price of an education for your 8-year old child now, you may wish to reconsider.
My bet is that 10 years from now (if not a lot sooner) education costs will be falling like a rock.
By Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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