Rethinking college

So high school grads and college students want free college, huh?

Completely out of the question.  There is no way this is going to be accomplished.  Nothing is free.  Someone has to pay.

The web page for the University of Michigan Flint shows a tuition / room and board schedule of $23,516.00 for this fall semester.  So four years of college would cost upwards of $200,000.00  After student loan interest is calculated, you’re looking at another $50,000.00.  That’s at the low rate of 4.29%, but with a whopping payment of over $2000.00 a month.

Instead of asking ourselves how we can pay such a loan, shouldn’t we instead be asking, isn’t there a better way to learn a profession?  In 2013, it was determined that 31% of graduates never hold a job in their field of study.

What would that be like to owe a quarter million dollars and never use the degree it purchased?

The system is broken, but the fix is most certainly not free college.

Dare I say, it may be no college.

After all, Sal Khan is interested in teaching you for free.