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And onto a topic we love to cover here is a college degree worth it.
It's a question on everybody's minds these days is grads face crushing debt in a down economy.
For more I want to welcome -- -- -- -- author of from preschool to grad school strategies for success at any level of competitive admissions and Charlie Kirk he's a founder of turning point USA and he has a lot of experience being in school because I think he's just out if I've got -- -- right.
Charlie thanks for coming on tonight give us your -- here is college really worth it.
I think it's becoming more and more or less and -- an investment that people put into it in October the Federal Reserve released a report.
That -- student loan debt has surmounted.
One trillion dollars kids are waist deep in debt and what it does is it this allows for entrepreneurial.
And innovation and kids won't be able pursue their dreams and -- in some sort of servitude for the next twenty or thirty years.
And it's becoming less less worth it -- servitude those are strong -- exact.
Kim what do you say you -- that the -- for some people out there just doesn't make sense.
I I think that a college degree is worth something exactly how much it's worth -- is what's up for question and I absolutely agree that there's a lot of confusion.
About how much.
People should be paying for college and I think that most people don't have the tools to figure out.
-- to navigate their own financial waters when it comes to college.
Note Charlie where I find amazing and I see this in New York all the time because the schools here are really really expensive.
People apply to schools that they have no way of affording.
You know people who are written -- in journalism and make a very small amount of money go to.
NY -- where they're signing up 400000 dollar degree.
Right and it's unrealistic and I -- I can even encounter with a better story in Chicago -- -- a friend that.
Wanted to be a mechanic still wants he mechanic.
Is now is going to Indiana for four years he's gonna study medieval history.
But wise -- studying that if you want to become a mechanic -- said when he was.
He was pushed -- towards that because of his counselors and as teachers but if -- -- become a mechanic he should go to a trade -- -- does go right into the workforce taking out huge loans and because of that he may never become successful in the workforce and we're seeing entrepreneurial bubble start to happen we're seeing attack.
Kind of start up.
I'm not nothing's really happening in an industry.
You know -- and we talk about tuition sticker shock in state public colleges 20122013.
-- -- tuition over 22000 dollars private colleges 43000.
I feel sorry for people return to get a school right now because eat it and doing it in a way that makes financial sense.
Is almost impossible what do you tell people who come dealing that look.
I want education but I don't -- -- pay an arm and a leg for it.
I think people should cultivate an understanding of what they individually can afford so.
You know sometimes an expensive school make sense if you have the money to pay -- forward and if you are.
Fairly certain that your going to go into a high -- grossing career.
Afterwards problems come when as you said people go to their journalism school or go into some sort of field where they won't economy and well it.
-- half a million dollars for their education at the craziest thing ever.
That's right and you know a lot of times things don't go as planned -- -- -- -- -- -- -- intending to do something that that -- -- high salary and you might not -- -- By the time you graduate you may change your mind several times I think that.
Families need to be realistic about the risk involved and in banking on and coming out of school with a really high salary.
-- wanna ask -- question that we talk about a lot here on the show and that's.
Is -- very fact of government student loans.
Is that the thing minutes spurred colleges and universities in many cases just a raise that tuition each and every year because look at the end of the day.
You know the kids are gonna get the money to -- school.
Yeah I think government plays a huge role -- -- tuition is just skyrocketing since 1980.
Other rate inflation Panama 135%.
-- college tuition has gone up 875%.
And you can see that because we keep on passing more and more.
Our government programs and central authority trying to back at the same thing -- have with the housing bubble.
We inflated industry and it -- it was happening at the student loan bubble right now and government says well we're gonna subsidize that more people wanna go and the price goes up.
And -- intention is good intention is every want people be educated.
But the result is kids have to pay astronomical amounts of money to go to school.
It's ridiculous can you actually look at something interstate and metric called return on investment you say that our -- that school say they give kids not true.
Give us some details.
Well I don't think if the schools are misleading typically schools will publish the average starting salaries.
For the graduates of those schools I think.
Where the disconnect happens is that people applying to those schools assume that they will earn at least as much as the average starting salary and that's not true.
If the average starting salary is 50000 dollars you know.
Some people earned 80000 dollars -- -- graduated better people earn 20000 dollars in the graduated right so I think I think that candidates need to be realistic about what they really plan on doing how certain they are what they plan on January avenue right -- she can't.
You know -- -- school has -- stake in the pie you know and then they eat -- you really want you to come so they're gonna make everything look as good as possible.
I Charlie you've got some -- the -- -- student debt clock on your website telephone little bit about that.
Right we just unleashed a student debt clock which is -- students share of the national debt and we did that.
To see what -- how much they go to the national net because students like -- -- I know this much the college of a look at how much you order the federal government because how much debt that the federal government is.
Amassing and it's kind of an interesting way that students camera latency when you think 80000 is a -- they old -- over 800000 dollars and share -- I'll -- which is.
Unbelievably immoral and -- practical.
I grade debt as bad we gonna do something about -- you guys and a great job talking to us about.
Global you know how people should think about college college debt -- Charley thank you so much for coming on tonight really appreciate your time.
Thank you thank you thank you --