How College Is Like Sunscreen

The moral of this story is simple. Don’t put on sunscreen and you are going to get fried in the scorching hot afternoon sun. When it comes to your career and earning potential if you don’t get a degree, your job opportunities and earning potential is going to get fried.

From: How College Is Like Sunscreen – Derek Thompson – The Atlantic

College students are paying more. They are taking on more debt. They are accepting worse jobs after they graduate and earning less than they did just five years ago. So how could it possibly be true that college is more important than ever?

The answer is sunscreen.

College in today’s economy is like sunscreen on a scorchingly hot afternoon: You have to see the people who didn’t apply it to fully appreciate how important it is. The same way a blistering sun both makes sunscreen feel ineffective and makes it more crucial than ever, recessions can both make a college degree seem ineffective and make it more important than ever.*

One of the confusing things about college is that it’s hard to keep straight its price, cost, and value. The sticker price of college—that is, the published tuition—isn’t paid by most middle-class students, who receive grants, tuition breaks, and tax benefits. The average net price of a bachelor’s degree is still 55 percent lower than the sticker price today. For many students, tax benefits eliminate the full cost of an associate’s degree. College is much cheaper than advertised.

Published vs. Net Tuition: Bachelor’s, Associate’s Degrees

The upshot is that, shockingly, the New York Fed found that the average “total” cost of a four-year degree isn’t much higher than it was 40 years ago.

Now, what about the payoff? This is where the story gets even more complicated. But thinking about sunscreen can help.

It’s a myth that the average wage of college grads is always rising. In fact, college-grad wages have spent as much time falling as rising since the 1970s. Real college wages fell between 1970 and 1982, rose between 1982 and the mid-2000s, and now they’re falling again. But everybody else’s wages are falling even faster. The “college premium” is still near all-time highs.

Again, consider the sunscreen. When it’s skin-blisteringly bright outside, ordinary sunscreen won’t get you the same results. That doesn’t mean sunscreen “isn’t worth it.” It means that however singed you feel in the morning, everyone without sunscreen got totally fried. This is what’s going on in the economy: Globalization, automation, debt hangovers … it all adds up to a scorching hot sun toasting the wages of middle America.

College is an investment, and like all investments, its results vary on timing and luck. But the chorus of alarming stories about student debt and a glut of degrees tends to obscure the empirical reality that it is practically impossible to prove with data that college doesn’t pay off for the vast majority of Americans who finish their degree.


*Pedantry Preemption: This is a terrible metaphor, because college isn’t like sunscreen. Sunscreen is applied preventatively to maintain skin health while higher education is purchased as a ticket of entry into a category of college-level jobs, which makes it enhancing rather than preventative. Yes. There are lots of other ways that college isn’t like sunscreen (e.g.: it cannot be sprayed, it does not make your eyes sting, etc.). This is a metaphor about opportunity costs.

Click the link to read the entire article: How College Is Like Sunscreen – Derek Thompson – The Atlantic.

New Scholarship Established

PMA

Special thanks to (from left): Bob Litchfield, PMA New England District Chair; Doug Sherman, Senior Vice President and Provost at NEIT; Bob Dupuis, Regional Manager, Dayton Progress Corporation; John Rogers, PMA New England Secretary/Treasurer; Barbara Gallonio, PMA New England District Director; Ollie Silveira, PMA New England; Joe Palmer, PMA New England Program Chair.

NEIT is pleased to announce that the Precision Metalforming Association (PMA) – New England District has generously established a $2500 scholarship in honor of Bob Dupuis, Regional Manager of Dayton Progress Corporation, a PMA member and training presenter for the Association boasting 27 years of experience in this industry. PMA is a full-service 900 member trade association representing the $113 billion metalforming industry in North America.

Based on established criteria, scholarships will be awarded to two outstanding NEIT Mechanical Engineering Technology students in the Associate in Science and Bachelor of Science degree programs. Precision Metalforming will participate in the selection process and awards ceremony held at NEIT in December, 2014.

 

Automotive Competition Revs Up

Pictured from left is Craig Stay, Snap-On Tools Account Manager with 1st Place  winners from Davies Career and Technical Center Savannah Monteiro and Jordan Vieira; Herb Gowdey, NEIT Automotive Instructor; and Bill Murphy, Automotive Teacher.

Pictured from left is Craig Stay, Snap-On Tools Account Manager with 1st Place winners from Davies Career and Technical Center Savannah Monteiro and Jordan Vieira; Herb Gowdey, NEIT Automotive Instructor; and Bill Murphy, Automotive Teacher.

The annual Ocean State Automotive Contest, hosted by New England Tech automotive school faculty in cooperation with the RI Automobile Dealers Association, provides an opportunity for high school seniors to demonstrate their automotive technical abilities.

Students must work at various stations to complete assigned tasks or to troubleshoot technical “bugs” that have been planted in the vehicles. The workstations include braking systems, steering and suspension systems, electrical and electronics systems, heating and air conditioning, engine repair, parts identification and engine performance.

Teams of two high school seniors from various Rhode Island high schools and career and technical centers had ten minutes to complete each station.

The winning teams received prizes ranging from Snap-on tools to NEIT scholarships.

The first place winners were awarded a one year tuition scholarship, second place winners received a $1,500 tuition scholarship, and the third place winners earned a $1,000 tuition scholarship. The winning teams will represent Rhode Island at the National Automotive Dealers Competition in New York on April 22-23, 2014. Congratulations to these outstanding students.

Pictured from left is Craig Stay, Snap-On Tools Account Manager with 2nd Place Winners from Warwick Career and Technical Center student William Matorelli; Herb Gowdey, NEIT Automotive Instructor; student Zachery Azeredo; and Bill Cilli, Automotive Teacher.

Pictured from left is Craig Stay, Snap-On Tools Account Manager with 2nd Place Winners from Warwick Career and Technical Center student William Matorelli; Herb Gowdey, NEIT Automotive Instructor; student Zachery Azeredo; and Bill Cilli, Automotive Teacher.

Pictured is Craig Stay, Snap-On Tools Account Manager with 3rd Place Winners from East Providence Career and Technical Center student Devon Bradley; Joe Barroso, Automotive Teacher; student Noel Fournier; and Herb Gowdey, NEIT Automotive Instructor.

Pictured is Craig Stay, Snap-On Tools Account Manager with 3rd Place Winners from East Providence Career and Technical Center student Devon Bradley; Joe Barroso, Automotive Teacher; student Noel Fournier; and Herb
Gowdey, NEIT Automotive Instructor.

The Grainger Foundation Supports New England Institute of Technology

Granger Foundation supports New England Tech - logoThe Grainger Foundation has donated $5,000 to New England Institute of Technology (NEIT) in support of its mission to provide students with a hands-on technical education.

“This grant will allow NEIT to offer scholarship opportunities for eligible students in our Associate in Science degree program in Refrigeration/Air Conditioning, Heating and Gas Technology,” said Robert R. Theroux, Vice President of Finance and Business Administration.  “Because of the generosity of The Grainger Foundation, together we can assist those students who may be experiencing financial challenges in completing their college education.”

The donation was presented by Jim Crowley, Branch Manager of W.W. Grainger, Inc.’s, Warwick Rhode Island location.

Grainger has been a part of the Warwick business community for more than 30 years as the leading broad line supplier of HVAC, electrical, lighting, tools, and other products.  “We recognize the important role that technical colleges like NEIT play in providing training that helps students meet the increasing technical demands of today’s workplace,” said Crowley.

The Grainger Foundation, an independent, private foundation based in Lake Forest, Illinois, was established in 1949 by William W. Grainger, founder of W.W. Grainger, Inc.

 

Scholarships Available to New England Institute of Technology Existing Students

Rhode Island college scholarships

Robert R. Theroux, Vice President of Finance and Business Administration at New England Institute of Technology, announced that more than 50 college scholarships from approximately 16 technology programs are available New England Tech students for the 2013-2014 academic year.

The application deadline is Friday, October 18, 2013.

Scholarship awards range from $500 to $2000 each and are provided by various companies, organizations and memorial funds. Students may apply through NEIT’s Financial Aid Office or online on the New England Tech student website.

 

Contact Maria Riccio, Assistant Director of Financial Aid, at 401-739-5000 or at mriccio@neit.edu for additional information.