Home Cost of a Degree

Cost of a Degree

Incurring Debt for Master’s Degrees – Where Is It Working?

On July 8, the Wall Street Journal (WSJ) published Melissa Korn’s and Andrea Fuller’s article, “Financially Hobbled for ‘Life’: The Elite Master’s Degrees That Don’t Pay Off.” The article opened with the example of recent film program graduates of Columbia University who took out federal loans and had a median debt of $181,000. If the debt load incurred for their degrees wasn’t bad enough, Ms. Korn and Ms. Fuller reported that two years after graduation, half of those student loan borrower graduates were making less than $30,000 a year.

Financial Planning for College Expenses and COVID-19

On the cover of the July 2021 Journal of Accountancy (a publication of the Association of International Certified Professional Accountants or AICPA) is an illustration of a few multi-colored college graduation caps along with the headline and subtitle: “Education expenses – Expert discusses student loans, savings tips, and making plans in a changing environment.” The cover article, a question-and-answer interview of college planning expert Ross Riskin by senior editor Dave Strausfeld, seems timely given that many college tuition bills are sent out around July 1 each year.

Federal Student Loans: Contributing to Higher Ed’s Problems?

In an opinion piece published in Newsweek last week, Ms. Neetu Arnold wrote that the federal student loan system isn’t worth it for students or taxpayers. Ms. Arnold notes that President Biden has not provided for debt forgiveness of student loans in the latest White House budget proposal, despite promising to do so when he was campaigning for President. Subsequent to the publication of her opinion piece, the Department of Education announced on June 16 that it was going to forgive $500 million in loans for 18,000 former students of the ITT Technical Institute.

Priced Out: What a College Education Is Costing America

In a recently published research paper, “Priced Out: What College Costs America,” National Association of Scholars Research Fellow Neetu Arnold examines three issues in U.S. higher education: inflated tuition, continuously expanding administrative positions, and increasing levels of student debt. She also shows how they join and reinforce each other to the detriment of America.