Krabby Kathy recommends a Naked Capitalism article that praises a WSJ article about stinky master's programs.
The flava:
The Wall Street Journal has done a terrific job of reporting in a new article, ‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off. Even though it discusses a general phenomenon, that of too many students of modest means acquiring student-debt-funded graduate degrees where the prospects of the borrowers paying off their obligations is practically nil.
The Journal documents that Columbia is the outlier, both in the ratio of “untenable if you don’t have rich parents paying for them” master’s degrees, and the particularly dreadful cost/earnings ratio (proxied by the debt/income ratio) of two programs, drama/theater arts and film.
The article:
Master’s Degrees Are the Second Biggest Scam in Higher Education
ReplyDeleteIn many cases, students are being scammed. But we're talking about graduate school. By the time a person has completed a bachelor's degree, one would think the person would do some due diligence in terms of job placement after finishing the master's. You know - percent of students having a job upon completion of the program and average starting salary.
ReplyDeleteA pox on schools for developing programs where students become heavily burdened with debt and little chance of paying it off. But I think we can hold the students accountable here as well. They should know what they're getting into.