U.S. Citizens Now Hold About $1.3 Trillion in Student Loan Debt

Re:U.S. Citizens Now Hold About $1.3 Trillion in Student Loa... by nickik on Monday November 21, 2016 @08:07AM (#13005061)

Its actually not ridiculous at all.

There is a lot of study on the idea that the main value of education is not what you actually learn but much more signal that you are dedicated, motivated and have the ability to learn.

There is a huge argument going on right now about how much of the value is signal vs actual knowledge you need for the job. There is a lot of evidence that suggest that signal is a huge part of the value.

Network does not really apply as a expiation because the effect appears even when transition to a place that you have no relationship with it.

If you are interested consider listening to this: https://www.youtube.com/watch?v=bpk_u_VmPD4

(Be aware, this is a strong version of the argument, deliberately picked to break with the tradition view that many people have)

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Re:U.S. Citizens Now Hold About $1.3 Trillion in Student Loa... by charlesdm on Monday November 21, 2016 @09:13AM (#13005468)

> There is a lot of study on the idea that the main value of education is not what you actually learn but much more signal that you are dedicated, motivated and have the ability to learn.

A signal, I can agree with that. But isn't that only because someone is unable to signal that (s)he can be a valuable asset in other ways? The type of person to only rely on their degree is probably a person that isn't creative enough to find more effective ways to market themself.

I think education is great and learning new things is massively important in life. I just personally don't believe in the degree fetish that a lot of people have. Just look at the quality of the average graduate in a lot of universities and/or colleges in the US and Europe.

To me, at best, a degree is an inefficient way to differentiate yourself from a group of similar people with similar skills. Maybe not a bad thing if you're at the start of your career. But at worst, it has zero additional value.

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Re:U.S. Citizens Now Hold About $1.3 Trillion in Student Loa... by nickik on Monday November 21, 2016 @11:57AM (#13006872)

I basically agree with you, but there is just a lot of people that don't. In IT you can get pretty far, without a degree. I did so, and I am very happy with that choice.

I don't see that working for a lot of other people I know.

I think the US is approaching numbers where you might really be better of without a degree in a increasing number of fields.

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Re:U.S. Citizens Now Hold About $1.3 Trillion in Student Loa... by kesselvon on Monday November 21, 2016 @10:24AM (#13006008)

Most places will not take your resume seriously if you don't have a degree attached. Startups tend to be more lenient sometimes, but Big Corp. isn't going to touch you without a degree, nor will you have a promotion path without one.

It's the reality of the situation, and until there's a significant change in attitude, not having "a" degree is going to hurt your career prospects unless you're a wildly successful entrepreneur or have great connections/independently wealthy.

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Re:U.S. Citizens Now Hold About $1.3 Trillion in Student Loa... by stale2002 on Monday November 21, 2016 @12:24PM (#13007102)

Well if that is the case, and the degree doesn't matter, then the government has no reason to subsidize 200k college degrees.

Just provide free community college to everyone for a 10th the price and call it a day.

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Re:U.S. Citizens Now Hold About $1.3 Trillion in Student Loa... by nickik on Monday November 21, 2016 @12:42PM (#13007254)

Why should the provide anything if the argument is true.

If anything this argument would suggest that you should have a private system of education and the government should spend all this money on research grants for things that are interesting, and/or useful.

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