The rising cost of education, even in a bad economy, and the students loans that are incurred are a huge issue for young people. The average college graduate has $25,000 in debt and the total student loan debt is now greater than a trillion dollars.
These debts are a huge burden because there’s nothing you can do to shake them, even filing for bankruptcy. We’ve heard colleges advertize that a college degree will yield a few million dollars over the course of a working career, but that’s not true anymore.
PayScale.com, a compensation data provider for both employees and employers, found that in 2012 the cost of a college education and graduate earnings decreased the 30-year college ROI, falling 2.3 percent to an average of $353,182 when comparing the same set of schools in 2011. Knowing this, young people are looking towards alternatives to offset the education they could have had or enrolling in programs that enable them to graduate without loans.
Here are a few:
– Peter Thiel’s “20 Under 20” Fellowship.
– College work programs.
– University of the People.
– Start a company.
See on www.huffingtonpost.com