Pretty interesting article here about the levels of student debt incurred by grad students in the Ivy Leagues. They center on Columbia University and their theater and film school, where students need to borrow $150K to $300K to finish the program, and have job prospects out of school making $40K (or less) per year.
www.wsj.com
A few takeaways for me:
- How does a school with a $11 BILLION endowment like Columbia has, live with itself sending graduates out with that kind of debt and that low of income prospects?
- I love the anecdotal story of a few kids lamenting to the Columbia administration about the level of debt they were incurring, and their response was to set them up to dog sit for the University President. LOL
- It's nuts how supposed "smart" people, who are intelligent enough to get into an Ivy League institution, don't have the "smarts" to figure out going in whether they are making a prudent financial decision to spend that kind of time and money on their preferred Ivy League program. Goes to show how some people might be intelligent, but they are functionally.......idiots.
- Clearly these schools are living in some kind of la-la land and want no part of actually trying to help the student loan mess. The government just simply wiping away debts isn't going to get these out of touch administrators to look in the mirror.
‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off
Lured by the aura of degrees from top-flight institutions, many master’s students at universities across the U.S. took on debt beyond what their pay would support, an analysis of federal data on borrowers found.
www.wsj.com
A few takeaways for me:
- How does a school with a $11 BILLION endowment like Columbia has, live with itself sending graduates out with that kind of debt and that low of income prospects?
- I love the anecdotal story of a few kids lamenting to the Columbia administration about the level of debt they were incurring, and their response was to set them up to dog sit for the University President. LOL
- It's nuts how supposed "smart" people, who are intelligent enough to get into an Ivy League institution, don't have the "smarts" to figure out going in whether they are making a prudent financial decision to spend that kind of time and money on their preferred Ivy League program. Goes to show how some people might be intelligent, but they are functionally.......idiots.
- Clearly these schools are living in some kind of la-la land and want no part of actually trying to help the student loan mess. The government just simply wiping away debts isn't going to get these out of touch administrators to look in the mirror.
