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Are American Colleges Failing our Children?

Are American Colleges Failing our Children?

With the current unemployment rate at its highest level in years, today's college graduates are under duress.  They are usually saddled with student loan debt that definitely put them at a disadvantage.  The numbers speak for themselves: I cite  Maryls Harris, The Consumer Reporter's article " Highest — and Lowest Earning —College Majors"
Earnings based on College Major:
• Counseling/Psychology………………………………… …$29,000
• Early Childhood Education…………………………………$36,000
• Theology and Religious Vocations……………………….$38,000
• Human Services and Community Organizations…… ..$38,000
• Social Work…………………………………………………… $39,000
• Drama and Theater Arts ……………………………….…. $40,000

Will somebody tell me how does someone survive on a $29,000 salary?
Let's break it down....
Salary....                                 $29,000.00
Monthly Income                             2416.00
Taxes(20%)                                  (483.20)
Social Security & Medicare               (169.12)
Monthly Medical Insurance               (450.00)
Student Loan($30,000 at 6%)           (333.06)
Car Payment & Insurance                 (300.00)
Rent/Mortgage                               (500.00)
Balance                                         180.00

The remaining $180 will have to take care of food and utilities.  This individual is under water. There is nothing for savings.  This is one of the biggest reason why people get into credit card debt. 

As Ms Harris wrote in her "my kids struggle with student loan debts and jobs that don’t pay a ton of dough, I’ve had my own doubts. Maybe all that money that they, my husband and I poured into higher education would have been better spent setting them up in businesses that couldn’t be outsourced to Bangladesh, like say, plumbing or time-share sales."We need a change?

Now you may be wondering what does this have to do with Real Estate.  As REALTORS these are the individuals that we are marketing to. They are the ones on Facebook.  Do you see these individuals as good FIRST TIME HOMEBUYER candidates? 
This is only chapter one...



 

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Beautiful Bernalillo CountyLivingAlbuquerque, and Lloyd & Associates Real Estate.

C. Lloyd McKenzie, MBA

NM Real Estate Broker

Phone: (505)750-8552
Email:Lloyd@LivingAlbuquerque.com

Areas Served: Albuquerque Metro/ Algodones/ Bernalillo/ Cedar Crest/ Corrales/ Edgewood/ Los Lunas/ Los Ranchos de Albuquerque/ Placitas/ Rio Rancho/ Sandia Park/ Tijeras

Comment balloon 6 commentsC. Lloyd McKenzie • May 29 2011 01:59PM

Comments

Excellent post! This is so true! It does raise the question if college education is worth the money if there are not decent paying jobs to pay back student loans. Many college grads are living with mom and dad.

Posted by Pamela Seley, Residential Real Estate Agent serving SW RivCo CA (West Coast Realty Division) over 7 years ago

Great post Lloyd!  Not only is the low pay an issue behind credit card debt but it's also a major reason for two-income households.

Besides the social issues, our colleges seem focused on getting people into the workforce more than trying to make them well-educated.  We're falling behind on innovations because we're training people to be consumers.  Ugh!

Posted by Bryan Robertson, Broker, Author, Speaker (Intero Real Estate) over 7 years ago

Pretty scary stuff when you break it down like that, Lloyd...

Posted by Emily Read over 7 years ago

This could actually be a payraise for some of us in the Real Estate industry.  I can see how this could easily transition into a discussion on politics so I'm leaving now.

Posted by Doug Bullwinkel, Mortgage Loan Originator NMLS #281609 (Envoy Mortgage, NMLS 6666) over 7 years ago

Well said!  And what will they do with that degree and debt as there are no jobs available within the scope of their degree?  

Posted by Karen Krupovage, Owner & Qualifying Broker, Affinity Real Estate, L (Affinity Real Estate, LLC Alamogordo, New Mexico) over 7 years ago

Thank you for your insightful comments.  I appreciate your continued support

Posted by C. Lloyd McKenzie, Living Albuquerque almost 6 years ago

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