You-niversity

Have you seen the stats on how the high cost of education these days does not produce an actual financial return on investment? A Georgetown study from 30% of America’s colleges shows that half the students earn less in ten years after graduating than someone with a high school diploma. I guess when colleges like Harvard ($80,000 a year) and Vanderbilt ($100,000) are driving tuitions up, ROI is suffering.

But there is another side. How happy are graduates? What kind of a life do they lead? Suddenly the cost is outweighing potential non-financial benefits. I didn’t want to go to college. I just wanted to be on the radio. I told my father, djs don’t need college. He said you will be the smartest dj on radio. Thank God I listened. My best friend Bob Donze had me talk to his Italian father and convince him that mine was actually going to allow me to take radio and television in college – one they could afford. We went to Temple together.

In a world pressed with anxiety, unhappiness, stress and addictions, you would think that being happy would be the first prerequisite in choosing a career. Then make the most prudent financial position your situation allows.

A Nobel prize winner Angus Deaton nailed it: “There is surprisingly little relationship between how much education you have and how happy you are.”

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