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The Cost of Doing Business

February 15, 2010

I was talking to some fellow law students today about jobs and the cost of college. With the massive layoffs of lawyers recently and the level of underemployment (which I’ll talk about in the near future) we were wondering about the value of our education versus the cost of obtaining that education.

I received two undergraduate degrees from a state university (B.A. in PoliSci and B.A. in English). The cost of obtaining these degrees was outweighed by their actual real world value. It was difficult to procure employment with these two degrees, and even more difficult to find a job that would pay me a decent wage. While business degrees are similarly situated degrees in Engineering or Accounting seem to be the exceptions to the rule. A college degree just isn’t worth much anymore. We’re spending too much and getting too little. The American University is the ultimate failing business, and they’re just too big to fail (in the sense of importance). Don’t believe me? Consider the Following:

Now my argument is not anti-education by any means.In fact my opinion is quite the opposite.  These facts illustrate the problem with higher education in America. The cost is prohibitive and the benefits are neutral if not outweighed by the cost of debt and low starting salaries. Universities should be in the business (as they are taking our money and providing a service, they are businesses) of producing a quality product – high-caliber students and high-caliber Universities.

-JDR

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One Comment leave one →
  1. MLN permalink
    February 15, 2010 9:52 pm

    Hmmm, I wonder if our “sub-par” public school degrees are actually the smart choice? Would be interesting to see how your law school classmates feel about those stats…

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