Do you think a uni education is a worthwhile investment ?
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Interesting read here ....
LONDON, July 26 (Reuters) - Mounting costs of further education are starting to deter prospective university applicants, a survey shows.
Almost one in four young adults think taking on debt to go to university is a waste, according to research by Engage Mutual Assurance.
Some 24 percent of 18 to 24-year-olds consider taking on debt to go to university pointless and 26 percent of parents aged 45-54 agree, the poll of 2,271 people shows.
Universities Secretary John Denham announced earlier this month that about 50,000 more students every year will benefit from full maintenance grants worth over 2,800 pounds to help them make ends meet while they study.
Graduates will be able to take a break from repaying their loans for up to five years to help them buy a house or start a family, he added.
However, the National Union of Students says that tuition fees and rising living costs mean students can leave university in up to 30,000 pounds of debt.
Against this backdrop, 82 percent of young people surveyed by Engage Mutual say they recognise the importance of going without today to save for tomorrow, compared to 61 percent of grandparents.
A spokesman for Engage Mutual, said: "The financial situation faced by today's young people is very different from that experienced by their grandparents.
"Whilst it is encouraging that many young adults recognise the need to save for their future, increasing costs of university and housing mean that young adults will have to think carefully about how much they save and how they invest."
http://news.asiaone.com/News/AsiaOne%2BNews/World/Story/A1Story20070726-19782.html
though that survey was conducted in the UK I think it's still food for thought for Singaporeans ...
so, do you think a university education is no longer a worthwhile investment ? .... I think this is especially relevant for people who are just good enough to make it to university, but do not belong to the rarefied ranks of scholars who get a free road through school ... (or, perhaps, also pink IC holders, those who have to borrow from their parents CPF funds while certain foreigners get a free ride courtesy of the goverment) .... I guess it must be especially painful for people who got a place in university but couldn't take it up because of financial constraints, like a classmate of mine in poly with an A' average, who had to give up a place in NUS because of the burden on the family ....
How many here had to take out loans from the parents CPF nest eggs for their university education anyways ? ... -
There are many areas of existing humble knowledge learned from early primary to later secondary level from simple culinary skills to science projects or equipment assembly or maintenance etc which should offer students sufficient choices and opportunities to develop a practical niche area of works or vocation to go into business, or earn a living.Originally posted by Fatum:Interesting read here ....
LONDON, July 26 (Reuters) - Mounting costs of further education are starting to deter prospective university applicants, a survey shows.
Almost one in four young adults think taking on debt to go to university is a waste, according to research by Engage Mutual Assurance.
Some 24 percent of 18 to 24-year-olds consider taking on debt to go to university pointless and 26 percent of parents aged 45-54 agree, the poll of 2,271 people shows.
Universities Secretary John Denham announced earlier this month that about 50,000 more students every year will benefit from full maintenance grants worth over 2,800 pounds to help them make ends meet while they study.
Graduates will be able to take a break from repaying their loans for up to five years to help them buy a house or start a family, he added.
However, the National Union of Students says that tuition fees and rising living costs mean students can leave university in up to 30,000 pounds of debt.
Against this backdrop, 82 percent of young people surveyed by Engage Mutual say they recognise the importance of going without today to save for tomorrow, compared to 61 percent of grandparents.
A spokesman for Engage Mutual, said: "The financial situation faced by today's young people is very different from that experienced by their grandparents.
"Whilst it is encouraging that many young adults recognise the need to save for their future, increasing costs of university and housing mean that young adults will have to think carefully about how much they save and how they invest."
http://news.asiaone.com/News/AsiaOne%2BNews/World/Story/A1Story20070726-19782.html
though that survey was conducted in the UK I think it's still food for thought for Singaporeans ...
so, do you think a university education is no longer a worthwhile investment ? .... I think this is especially relevant for people who are just good enough to make it to university, but do not belong to the rarefied ranks of scholars who get a free road through school ... (or, perhaps, also pink IC holders, those who have to borrow from their parents CPF funds while certain foreigners get a free ride courtesy of the goverment) .... I guess it must be especially painful for people who got a place in university but couldn't take it up because of financial constraints, like a classmate of mine in poly with an A' average, who had to give up a place in NUS because of the burden on the family ....
How many here had to take out loans from the parents CPF nest eggs for their university education anyways ? ...
It is a matter of practicality of education. Sad to say the existing education system is too academic emphasising on passing of prescribed examination without any direction or targeting at practical knowledge applications.
If only the education is more practical oriented to prepare a student to apply existing knowledge and develop practical skill instead of over-emphasising on the academic or paper chase, many people would probably have mastered a practical skill or vocation by the time he finishes his secondary or ITE or Poly.
Which route a person takes depends on how he is being taught in schools but chances are he is being too academic and wanting to go to university to secure a job neglecting to apply what he has learned practical from early schooling.
I for one has posted many feedbacks on the critical importance of applying existing practical knowledge application to the Feedback Unit for years. What have all the talented three education ministers done about such suggestions? -
It depends, young people nowadays are more savy. They rather buy value than just the name that comes with a university degree. Ask yourself...what are you really investing in? Ideally it will be something that can make money anytime, anywhere.
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Don't even say university, I'm already using my parents' CPF for poly education. The amount I needed to pay back by the end of 10 years is probably larger than me, literally.
Costs of education aside, the other costs are rising as well. Cost of living, GST, transport fees, insurance, exams, tests, miscellaneous fees, whatever that can be charged will be charged.
If poly education is enough, I don't see the need for university education. In fact, given what I study (info tech), is it even worth to pursue higher education?
Frankly, I don't think so. I'm not of the opinion that a university graduate will know more info tech stuffs if they can't bother to keep up with the pace of technology.
The same goes for all the other fields. It's no longer static, but dynamic. -
In the civil service, graduates and non-graduates pay can be 1000+ difference. So why is it not a worthwhile investment?
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Because government sees papers.
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private firms also.Originally posted by ndmmxiaomayi:Because government sees papers.
look at saturday's classified......so many looking for degree holders......
if u go out walk walk, throw a rock into the crowd, the person u hit most likely will be a graduate, or someone with a masters/phd..... -
I'll still be pursuing my MA..
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hai i will surely have to draw on my parents CPF. something i dont really like but have to do.
degree is a golden key -
If jobs for graduates are readily available, it is fine to go for university education.Originally posted by laoda99:private firms also.
look at saturday's classified......so many looking for degree holders......
if u go out walk walk, throw a rock into the crowd, the person u hit most likely will be a graduate, or someone with a masters/phd.....
Suppose there are 1,000 executive jobs of which 600 are for graduates attracting some 20,000 graduate applicants. What is the chance of getting that job?
Will not most of the graduate applicants have to settle for something less that they are educated for?
Is it wise to spend S$40,000 to get a degree which is so common that one practically has to face the luck of the draw to get that graduate job. -
I'd question the validity of looking upon education as an investment. Considering that during my undergrad vacations, I was making more than what fresh grads made per month, I can't confidently say that I'd be making much less money now if I hadn't gone to university.
Call it decadence if you will, but for me, the value of education is the education itself, rather than the doors it is purported to open. Having a charge-out rate of three grand a day isn't too bad, but the real fun on the job is sitting around with my team and picking away at the issues and nuances of different ways of analysing the data on hand. I could well be making good money if I had skipped university - I have plenty of friends who do that - but I doubt the journey would be as much fun. -
may i knw the secret of u making $ without going uniOriginally posted by Gedanken:I'd question the validity of looking upon education as an investment. Considering that during my undergrad vacations, I was making more than what fresh grads made per month, I can't confidently say that I'd be making much less money now if I hadn't gone to university.
Call it decadence if you will, but for me, the value of education is the education itself, rather than the doors it is purported to open. Having a charge-out rate of three grand a day isn't too bad, but the real fun on the job is sitting around with my team and picking away at the issues and nuances of different ways of analysing the data on hand. I could well be making good money if I had skipped university - I have plenty of friends who do that - but I doubt the journey would be as much fun. -
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haha... I dont want to read the previous long long post lah....
But is uni education worthwhile ??? it depends lor
It depends if u noe how to use yr uni education...
Many people who process uni education but they dont use it well... Or should I say they dont excel as good as diploma holders of the same age...
In fact, the worth of anything is worthless if one does not noe the usage of it... -
May be uni is not worthwhile, JC is enough;
may be JC is not worthwhile, Poly is enough;
may be Poly is not worthwhile, ITE is enough;
but why need ITE? many old folks didn't even get the O level GE certificate, they also made it in life.
You really don't need to be educated to make money, you only need to read and write, that is what many indonesians with big family business are doing. You only need to be literate, don't have to be educated. You acquire the skill of the business when you are in it. Of course, unless you need the professional skills, like doctor, lawyers, .....
There is no guaranteed return in such investment, last time doctors made a lot of money, now many doctors are just GP in HDB estate, no day no night; last time we studied IT thinking this would be the future, only to find that the Indians from India are taking all the jobs at low salaries. Now people study Finance, funds management, but in a booming economy and a bull market, the ah soh also make big money from stock markets, the ah peh also become millionnaire from the en block sales. There is no guarantee that biomed, or life science, will give you better salaries in the future.
Education is an investment for the future, but the return is not in monetary term, it gives you the basic tools to pick up new knowledge, the analytical mind to manage information overflow, the skills for judgement and decisions making. It used to give us also the values to be a better person, but without moral education now, many highly educated people are also the most uncivilized people around.
Many think they have to go overseas for uni studies, but a much cheaper way is to study in local universities. I have many friends who work for few years a do post graduate degree part time, one of them actually did a degree through correspondence course, only spend the last semester in Australia to complete the degree.
Chinese says, "huo dao lao, xue dao lao." There is never ending to learning to improve oneself. You can borrow to study for a degree or you can just learn a skill after PSLE to make money. You alone decide what is good for life, your life. (Don't blame the ministers, the education system....
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Uni education teaches you how to chug down 2 jugs of beer and still be sober enough the next day for your 8am philosophy class.
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Any education is better than no education - so it is worthwhile. However, there shouldn't be an over-emphasis on paper qualifications when it comes to employment.
A qualification is nothing but a statement that one has met the minimum requirement to pass the exams. It is not a statement of one's ability to perform at work!
However, I think the MBA is hived. People spend so much money on a programme that teaches you nothing like rocket science but ROJAK! What so difficult to manage business? The difficult part is GETTING BUSINESS !!!! -
I believe that education should only be a means to an end, not an end in itself. Thus it's pointless going deep into debt to study if you still don't land a well-paying job after graduation........
The ideal is to study for knowledge but the way the world is moving, that's only an ideal and remains as such. These days, it's the rat race - People just study as fast as thry can to pass their exams, graduate and find a job. Who cares whether they remember anything they have studied?
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You can help your parents by working during vacations or giving tuition to help pay for uni fees. Some enterprising undergrads have even started lucrative business.Originally posted by ndmmxiaomayi:Don't even say university, I'm already using my parents' CPF for poly education. The amount I needed to pay back by the end of 10 years is probably larger than me, literally.
Costs of education aside, the other costs are rising as well. Cost of living, GST, transport fees, insurance, exams, tests, miscellaneous fees, whatever that can be charged will be charged.
If poly education is enough, I don't see the need for university education. In fact, given what I study (info tech), is it even worth to pursue higher education?
Frankly, I don't think so. I'm not of the opinion that a university graduate will know more info tech stuffs if they can't bother to keep up with the pace of technology.
The same goes for all the other fields. It's no longer static, but dynamic. -
A uni is a worthwhile investment if you are in there to pursue knowledge and the ability to think
Sad to say, before uni, in our education system, most of us don't think, more trained to do.
Its also agreeable that the ones whom pursue knowledge tend to do well later in life than those who go in for the sake of the degree.
The pursuit of success should not be pursued directly. By building your knowledge and your thinking skills, you are better positioned to perform better in life later.
Knowledge is power.
The above are my thoughts coz I am a knowledge seeker. Others whom go into university in direct pursuit of the paper may have a different perspective to mine. -
it doesnt guarantee employment.
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in life, there is almost never any guarantee for anythingOriginally posted by iLuVpOrKyPiG:it doesnt guarantee employment.
The odds are stacked against you when you want a guarantee, becoz the risk of guarantee will be calculated and laid on you. -
How do you know you have the knowledge if you fail your exams and don't get any paper at all?Originally posted by soul_rage:The above are my thoughts coz I am a knowledge seeker. Others whom go into university in direct pursuit of the paper may have a different perspective to mine. -
Actually I'd say the education at JC level is more rigorous. I think it is easier to score in uni than in JC, comparing GP with the arts and humanities subjects.Originally posted by soul_rage:A uni is a worthwhile investment if you are in there to pursue knowledge and the ability to think
Sad to say, before uni, in our education system, most of us don't think, more trained to do.
Its also agreeable that the ones whom pursue knowledge tend to do well later in life than those who go in for the sake of the degree.
The pursuit of success should not be pursued directly. By building your knowledge and your thinking skills, you are better positioned to perform better in life later.
Knowledge is power.
The above are my thoughts coz I am a knowledge seeker. Others whom go into university in direct pursuit of the paper may have a different perspective to mine.
Sorry to say, those who believe a uni is a place to build up your knowledge and thinking ability are losers. They say this because they couldn't list out anything noteworthy, hence the motherhood statement.
IMHO, a uni is a place for opportunities. Screw the modules; most of them will not make an impact on your life. What will make an impact on your life are
1. Friends. Some of the best friendships are forged during uni days.
2. Pool of talents. Uni is a place where smart people congregate. The top talents mostly go to the top unis, where they learn under world-class faculty.
3. Internship Programme. For example, NUS Overseas College. Students work full time in a silicon valley startup and study part time, for a year.
4. Incubation. Good if you want to start your own business.
5. Networking. Similar to 1, but whereas 1 is 'personal', this one is 'business'. Your networks might not be your good friends, but they can hyperlink you to further opportunities.
With these points in mind, it is not hard to imagine why Sergy and Brian, Gates, Jobs and all the uni dropouts can succeed in life.
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'cos he has applied the knowledge and succeed?Originally posted by sgdiehard:How do you know you have the knowledge if you fail your exams and don't get any paper at all?
for example, how does an engineer know he has the knowledge? by building a bridge with it and the bridge doesn't collapse.