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.

Skip College and Forfeit $800,000 In Earnings – Says New Federal Study

SAN FRANCISCO (Reuters) – Over a lifetime, the average U.S. college graduate will earn at least $800,000 more than the average high school graduate, a study published Monday by the Federal Reserve Bank of San Francisco shows.

That’s after accounting for the high cost of college tuition and the four years of wages lost during the time it takes to complete a typical undergraduate degree, the researchers found.

“Although there are stories of people who skipped college and achieved financial success, for most Americans the path to higher future earnings involves a four-year college degree,” wrote Mary Daly, the San Francisco Fed’s associate director of research, and Leila Bengali, a research associate, in the latest Economic Letter from the regional Fed bank.

In short – “college is still worth it.”

Click the link to read entire story Skip college, forfeit $800,000: Fed study – Yahoo News.

 

New England Tech Awarded Scholarships to 65 Students At Annual Awards Ceremony

Rupertico Sevenino Salas of Providence, RI, a student in the New England Institute of Technology Advance Automotive High Performance Technology program has been presented with a Bridgestone/Firestone Scholarship.

Other awards were also presented by the New England Tech Alumni Scholarship Fund, including those that are dedicated to the memory of a friend, staff or faculty member of the college. The scholarships, ranging from $750.00 to $3,000.00, were established by various trade organizations and companies.

In all, New England Tech presented these scholarships to 65 students.

See the full article at GoLocalProv.com.

New England Institute of Technology Announces Its Annual Tuition Freeze

Seth Kurn, Executive Vice President at New England Institute of Technology (NEIT), announced that for the 31st consecutive year, the college is offering a tuition freeze to all individuals who enroll by December 31, 2013.

Already having the lowest tuition of any private college in Rhode Island, New England Tech is continuing its tradition of providing high quality hands-on technical education at the most reasonable tuition.  Individuals who enroll in any one of the college’s associate or bachelor degree programs and remains continuously enrolled in their chosen program until graduation, will have their tuition frozen for their entire course of study at NEIT.  The college offers more than 35 Associate in Science, Bachelor of Science, and Master of Science degree programs at its three Rhode Island campuses. These programs offer a hands-on approach to learning in a myriad of technical and professional fields each coupled with a liberal arts core.

As Kurn stated, “Tuition freeze programs are not new to New England Tech.  Students will not only save money, but they can plan the financing of their education more effectively by being exempt from any tuition increase.  We strive to help our students’ succeed so assisting them with their financial needs is one way to help them stay on the path to graduation.”

For more information on NEIT’s tuition freeze as well as the numerous degree programs offered at the college, call the Admissions Office at 1-800-736-7744, 401-467-7744, or visit www.neit.edu.

New England Tech’s Tuition Freeze Ends December 31!

We asked current New England Tech student Kenny Jaramillo what attracted him to New England Tech. In addition to wanting to prepare himself to “land a great career, not just another job,” Kenny was also attracted to New England Tech by our Tuition Freeze program. If you enroll by December 31, 2013,  your tuition at New England Tech will not increase as long as you are continuously enrolled at the college.

To hear more about what Kenny has to say about his experience at New England Tech, check out the video below!

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.