Law in Contemporary Society

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AlexKonikSecondPaper 12 - 22 Jan 2013 - Main.IanSullivan
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Defaulting Into Education

-- By AlexKonik - 03 Jun 2012

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The Creed Does Not Apply To All

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<		Graduate education can quickly become a default choice in a slumping economy, rationalized as a sound investment when for many it actually serves as a credible excuse for delaying entry into the workforce (for an honest introspective see Joshua Divine's essay). These “default students” may benefit by foregoing additional schooling. There are at least two groups for whom a graduate school investment is unsound: one fails to realize any financial benefit from her degree and the other sacrifices life goals in response to financial pressure accompanying the degree. First, assuming financial motives only, some degrees just don’t pay off.
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>		Graduate education can quickly become a default choice in a slumping economy, rationalized as a sound investment when for many it actually serves as a credible excuse for delaying entry into the workforce (for an honest introspective see Joshua Divine's essay). These “default students” may benefit by foregoing additional schooling. There are at least two groups for whom a graduate school investment is unsound: one fails to realize any financial benefit from her degree and the other sacrifices life goals in response to financial pressure accompanying the degree. First, assuming financial motives only, some degrees just don’t pay off.
 
You're going to cite a third-rate financial news website for the accuracy of a statement as broad as this one? Did you do any other research, or did you stop with "bankrate.com"?
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<		Doing the same work without the degree is possible, and the augmented salary does not make up for the opportunity cost of formal education. Second, some students enter graduate school with the intention of pursuing a low-paying field to satisfy non-pecuniary desires. After feeling pressure from the magnitude of loans, they abandon their goals and pursue an unwanted career that can fund their degrees (see Nithin Kumar's piece on burdensome law school debt). Although these degrees have great fiscal returns, it can come at a great personal cost. These default students fall victim to the education creed.
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>		Doing the same work without the degree is possible, and the augmented salary does not make up for the opportunity cost of formal education. Second, some students enter graduate school with the intention of pursuing a low-paying field to satisfy non-pecuniary desires. After feeling pressure from the magnitude of loans, they abandon their goals and pursue an unwanted career that can fund their degrees (see Nithin Kumar's piece on burdensome law school debt). Although these degrees have great fiscal returns, it can come at a great personal cost. These default students fall victim to the education creed.
 

Revision 12r12 - 22 Jan 2013 - 20:09:45 - IanSullivan
Revision 11r11 - 12 Aug 2012 - 14:50:48 - EbenMoglen
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