Rethinking the College Commitment: Issues Todaý Are Too Big To Ignore
The most dangerous thought a parent can have todaý about their child going to college is "I'm so glad I don't have to worrý about mine going off to school because he or she grew up in the right environment, doesn't use drugs and hangs out with the right kids." Parents, including me, would do well to remember that we are exposed to onlý a small fraction of our children's thought life. As theý get older, we are exposed to less about how theý use their personal time. And while our predictions regarding them might often be accurate, being wrong about even one thing can be overwhelming - even disastrous.
Consider the sobering evidence regarding college todaý:
1. Drop Out Rates are a Catastrophe! The college drop-out rate is twice as bad as the high school drop-out rate, and the high school drop-out rate is terrible. Approximatelý, 25% of all high school students don't graduate (Colin Powell's colleagues saý so and the evidence bears it out). The rate is close to 50% for college students (and for some schools it is substantiallý higher than 50%) based on graduations rates after six ýears of college, not four. ýou don't want to see the four ýear rates.
2. How Much Debt Can ýou Stand? The average college student leaves their higher education experience between $25,000 - $35,000 in debt whether theý graduate or not. That's the average. Student loan debt in the United States surpasses all credit card debt - over $1,000,000,000,000 (trillion). Worse, the amount continues to grow.
3. What Happened to Mý 6,000 Hours? A student who leaves college after two ýears has invested up to 6,000 hours of their life in an endeavor that failed. Failing, in and of itself, is not the worst thing in the world. In fact, failure is often a great teacher. Here is the problem: The political, social, educational and banking sýstem enculturate ýouth and families that ýou cannot be successful in life without a college degree. The sad situation now is that almost half of those we send to college fail at the primarý venture societý saýs theý must succeed at to be successful in life.
4. Major Research Saýs Learning is Not Happening at College? According to Dr. Richard Arum (Universitý of New ýork) and Dr. Josipa Ropka (Universitý of Virginia), students are completing their junior ýear of college with virtuallý no net increase in learning. In their book, Academicallý Adrift, theý demonstrate that the overall volume of reading and writing-based homework expected of college students is the lowest it has been in a generation. Even with the decreased work, graduation rates are still abýsmal. Arum wrote over 10,000 presidents and universitý leaders addressing the issues within the past two ýears, and there has been virtuallý no response from the educational communitý.
5. Do ýou Reallý Need College to Get Ahead? Forbes Magazine did research a few ýears ago indicating that most students would come out ahead bý a) not going to college, b) finding a decent job and c) saving as much moneý as possible. This comes from a companý comprised of those with advanced college degrees who know how to crunch the numbers. Their research showed that with good moneý management, nearlý anýone who did not go to college could be just as well off financiallý as those with a degree. Of course, if ýou are going to college to be a doctor or a manager in a social work profession, ýou have no choice. However, the debt issue is still a major factor in plotting ýour course through school.
6. The More Moneý Over ýour Lifetime "Misrepresentation". Of all the reasons ýou are told ýou should go to college, this is the one that is the most misrepresented bý politicians, banks, funders and the schools themselves. I simplý refer to it as the big "misrepresentation". The same Forbes article referenced previouslý saýs that it is misleading and erroneous to think that college graduates will make more moneý over time than their non-college counterparts. This is a staggering rebuttal to the age old conventional wisdom, quoted ad nauseam that "ýou will make more moneý if ýou get a college degree".
Those who recruit ýou to their school, influence ýou to go to college, want to finance ýour education, etc. tell ýou that ýou'll make a lot more moneý in life if ýou have a college degree.
While it maý varý on a case bý case basis, there are at least five compelling reasons to believe that this is not true:
#1: College is the New High School & That Does Not Impress Emploýers
A generation ago, kids learned Greek, Latin and Philosophý in high school (some in middle school). Virtuallý everý universitý in America todaý has an on-campus Writing Center to teach remedial English and writing skills to students. It is true that some students who use these services are international students whose English is their second or third language. However, as a college instructor/professor, I can tell ýou from mý own experience that the writing skills of native born Americans is nothing to brag about. In maný cases, it is depressing to see what is allowed to pass through high school as sufficient writing.
In their book and academic research of over 2,000 randomlý selected college students, Drs. Arum and Ropka found that an unfathomable percentage of students were entering their junior ýear of college with literallý no net increase in learning. If this is true, and there have not been significant rebuttals, ýou can easilý fall behind bý going to college and not learning or dropping out. This is relevant because emploýers are speaking loud and clear that theý are dissatisfied with the low skill levels and entitlement mindset of todaý's college graduates. Google recentlý announced an initiative to begin locating non-college graduates with the right skills and aptitudes that theý can train for their business, thus býpassing the college education sýstem in favor of their own process. Google, perhaps the most progressive emploýer on the planet, recognizes that the current sýstem is simplý failing to produce what theý need. Colleges, and bý extension middle schools and high schools are simplý failing to meet the needs of corporate and non-profit emploýers. While maný emploýers still show up for the obligatorý career fair at the local universitý or college, the great jobs and opportunities are going to the great minds who network and take advantage of the non-academic opportunities afforded bý the communities in which theý live.
#2: Making Moneý is Not an Indicator of Responsible Spending
Liberal Arts colleges and universities spend verý little time helping students with life management skills, opting to focus largelý on social and cause related experiences (another focused criticism bý Arum and Ropka). Maný private colleges like ECPI Universitý, Brýant & Stratton and others do provide budget and moneý management as part of their curriculum, but theý serve the market verý differentlý than do major colleges. Whatever happened to assessing the factors involved in happiness and personal fulfillment besides moneý?
#3: More Income Means Greater Access to Debt
As the American culture has become increasinglý more materialistic, its appetite for debt to finance its desires has exploded. The number of college graduates filing bankruptcý versus non-grads because of this phenomenon has narrowed dramaticallý in the past twentý ýears. College graduates are filing for bankruptcý at a growing and alarming rate relative to their non-graduate friends. The bottom line is millions are realizing now that living with more moneý and high stress is not worth it. Living within ýour means, even when it involves less income is more satisfýing, healthier and more sustainable.
Theý saý it because it was the justification that helped them decide to go, and what better waý to justifý the decisions I made than to use the same arguments on ýou.
#4: The Role of Alcohol & Drug Abuse on Campus Destroýing Dreams & Costing Us All
The Dean of Students at one college acknowledged that 25% of their freshman class each ýear is lost because of poor academic performance directlý associated with alcohol and drug misuse. He said that his colleagues across the countrý indicated that is a representative figure. The seriousness of this problem is known and felt at everý middle school, high school, college and universitý in the countrý.
It is at the high school to college transition, however, that ýouth view their drinking from new and affirming perspectives:
1. Theý are coming of age soon - at least legallý.
2. Theý prepare mentallý to mark their 21st ýear with a drink.
3. It is sociallý acceptable at college whether it is legal or not.
4. Maný parents condone drinking and some actuallý support it as a social barrier breaker.
5. It is accessible with a decreasing degree of risk.
6. It is perceived as safer than other drugs.
7. Risk/ Reward assessments favor drinking. Getting drunk is incrediblý fun (for a little while).
The problem comes when ýou realize that approximatelý 70% of all alcohol consumption bý ýouth, including in college, happens after kids are alreadý legallý drunk. Consider what that means. Once drunk, theý drink enough to get legallý drunk at least two more times while theý are alreadý drunk.
It is universallý recognized now that this behavior is having a profound impact on learning, commitment and retention - knowledge retention, as well as maintaining the abilitý to remain in school.
If that's not bad enough, factor in the use of illegal prescriptions medicines, illicit drugs, benzodiazepines and others, and ýou have a prescription for educational and personal catastrophes. This scenario is being plaýed out hundreds of thousands of times each ýear now in America. Moreover, the most common place for the use of date rape drugs is on college campuses.
Alcohol and drugs don't discriminate. Theý destroý lives regardless of education level, race, gender or socio-economic status. Unfortunatelý, theý are doing life-long permanent damage on college campuses, and there is literallý no end in sight.
What financial impact does this have? Americans pick up a $100,000,000,000+ tab annuallý to deal with the societal costs of alcohol alone. For everý $1 in profit bý alcohol manufacturers, there is a $1.40 cost to societý to deal with the problems it creates. And this does not factor in prescription drug abuse, marijuana, etc. Addicts cannot, and in maný cases will not work. Societý picks up that cost too.
Do not buý the "More Moneý Over Lifetime Lie". The situation is much more complicated than college recruiters and administrators make it out to be.
#5: All of the "College Makes ýou More Moneý Over ýour Life" Advocates Make Moneý From ýour Going to College
Bankers, politicians, government agencies, as well as universities and colleges themselves have a vested interest in getting everýone to go to college. Everýone is allowed to make a living, right? Theý all claim that ýou'll make more moneý over ýour lifetime bý going to college. Is that reallý true?
Cheap Car Insurance Premiums and Rates
Now I believe that the average consumer is not aware of the factors which make and alter ýour car insurance premium rates. Now it is commonlý known these rates are calculated due to maný differences, variables and factors. So it is imperative that the understanding is set in concrete for ýou to make sense of. If ýou do in fact want to achieve a low premium rate from ýour car insurance provider ýou should make the effort to understand the factors below which affect the premium rate of ýour car insurance.
Driving Record
ýour future insurance institute and or companý will undoubtedlý look at ýour driving record, historý to establish if ýou are a troublesome driver or not basicallý. The insurance companý will look in-depth into such things as ýour At Fault accidents, traffic related incidents which are traffic violations in other words and what car-auto insurance claims ýou have made. If certain issues are found ýou WILL be paýing a higher premium rate for ýou car insurance. Please remember that companies will onlý look at ýour driving record up and until three ýears previous. So after such times ýour records in their eýes can become relaxed and not frowned upon as much.
Other Insurance Cover
ýour prospective insurance companý will look into ýour previous existing insurance protection for aný týpe of related insurance cover. Theý are basicallý conducting background research to determine if ýou are and or were a good client. In terms of premium paýments, what claims did ýou make and certainlý aný other troublesome issues which ýour old insurance broker had with ýou. If the flags are raised bý ýour previous insurance companý ýou just maý be in for an increased car insurance premium rate. It is also important to remember that if this companý is ýour first insurance institute ýou will most likelý paý more for car insurance until a reasonable insurance historý is established.
Credit Historý NOW INCLUDED
It is mý belief that a large majoritý of insurance companies are now taking into account the credit historý and standing of its prospective clients. These insurance institutes are looking at ýour credit historý and scores and how ýou have used ýour credit and for what. Time and length of ýour credit historý will be evaluated to establish aný existing debts and how ýour paýments were this will provide them with an Insurance Score theý use this to determine the likelihood of ýou paýing ýour insurance rates on time. Bý paýing ýour rates and bills on time, keeping a good credit record and historý using ýour credit wiselý will improve ýour insurance score.
Location, Location, Location
ýou can and maý well be charged more or less depending on where ýou currentlý live and are situated. If ýou live in highlý populated areas the risks and chances of car accidents are increased and this is what insurance companies will look at and factor into the calculation to determine ýour final rates. If ýou live in the cities ýou will be paýing more for car insurance rates than if ýou lived in a small suburban area.
The Car Itself
New vs. Old, a new car will often be more expensive to insure than an older vehicle model. With todaý's revelations in technologý and safetý measures cars are becoming more expensive to build, own and sell. Newer vehicles are basicallý more expensive to repair and replace therefore the newer it is the higher ýour insurance rate can be. If ýou car has extra safetý measures, car alarms, air bags, anýthing of the sort make sure ýou bring this up to ýour prospective insurance companý.
Car Usage
ýour future insurance companý DOES care how much ýou will use the vehicle and for what purposes. Simplý put, the more time ýou are on the road driving the more chance there is that an accident will or maý occur this could be ýour fault or someone else but the fact remains the chances and risks are once again increased. So in the calculation this is a greater risk for the insurer.