Blog | Personal development

Education: Cost vs. Value

the online game that increases your financial iq - play now

In the July/August issue of MORE Magazine Lynn Sherr interviews journalist Claudia Dreifus, the author of a new book titled Higher Education? How Colleges Are wasting Our money and Failing Our Kids-and What We Can Do About It. Dreifus is critical of universities - especially Ivy League schools - that charge enormous amounts of tuition but don't provide the quality of education that students need and deserve. 

Dreifus is critical of how universities squander money on staff perks, sports teams, and empire-building, and not enough to helping students get a high quality education. She cites the high number of classes being taught not by professors but by graduate students, adjuncts, or visiting professors. She advocates a return to the fundamentals that stretch students' minds such as science, history, philosophy, and English. 

While I agree that Dreifus is certainly on the right track, she stops short of mentioning those topics that are almost completely absent from schools, even in college: real-world skills like financial education, leadership, economics, and communication, to name a few.

The test of a good education is this: What can you DO with it? A college education can be good if it helps you get the job you want. But these days that's a big "if." If you want to be a business owner or investor, you'll need to seek your education outside of the traditional school system. The good news is, even the most costly investment courses are usually less than what you'd pay to attend a big-name university. 

So before you - or your child - spend big bucks for the best college education money can buy, know your expectations and understand how the particular education you've chosen will help you achieve your desired results.

Original publish date: June 29, 2010

Recent Posts

Three Investment Values
Personal Finance

The Rich Dad Guide to Investing Values: Defining Your Path to Financial Success

It’s important to know which core values are most important to you, especially when it comes to the subject of money and financial planning.

Read the full post
Risky vs. Safe Investments
Paper Assets

Smart Investing: Understanding the Difference Between Risky and Safe Options

What you may think is a “safe” investment, I may see as risky. For example, many financial planners advise their clients to get into so-called “safe” investments — such as savings plans, mutual funds and 401(k)s.

Read the full post
Mastering Money
Paper Assets, Personal Finance

Mastering Money: The Key to Achieving Financial Freedom

Begin the path to making money work for you today, not the other way around.

Read the full post