Posted On: Tuesday - April 12th 2022 7:29PM MST
In Topics:   University  Humor  The Future  Educational Stupidity  Inflation
This one is pretty funny, funny cause it's true. Parents have been encouraging, or at least permitting, their college-age children to go to the University for a degree in anything, thinking this is 1985, and that always gets you a decent job, "even if not in your major of Philosophy" It's NOT 1985 though. It's almost 4 decades later. Even 10 years ago, parents should have known better.
Worse yet is that college costs have gone up just as much, if not more, than everything else over the last few decades. In our very early on post University Bubble 101 we didn't really get into the inflation of tuition - I'm sure the data is out there all over - rather than just a quick anecdote about the price of London Broil at the local restaurant that we have enjoyed being around since forever, since closed for good due to the Kung Flu PanicFest. (We tend to drop the ball sometimes.)
From my own local knowledge, I'm gonna give a number based on tuition and fees only (fees are a big deal now, and I don't think there even WAS such a thing then), without any time-line and absolute numbers, but just the the calculated compounded inflation rate. (This is dictated by anonymity.) This is for a State school in a reasonable area, mind you. I get just under 5%, over a very long stretch. I haven't done calculations on the increase in the price of dorm rooms, as, for one thing, hedonics* would be involved, what with the very fancy living quarters as opposed to those of years ago.
If it's not gonna be Computer Science, Engineering, a hard science, or you all have the cash, and he simply really, really wants to learn some particular Humanities subject or Math, then be very wary of sending your young man to college. For your daughter, maybe the MRS degree will be well worth it - I haven't done the math on that. That higher math is hell...
* That post has one of my favorite titles "Hooked on Hedonics". There is also Hedonics - Pleasure from Products and Services and Hedonics in the Current Era of Cheap China-made Crap from about 3 years back, when I was getting into this stuff.