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According to Goldman Sachs, college may not be worth it anymore because of how much debt you’re going to be in, and how little money you will be paid throughout your lifetime. Way to suck out our souls once again, Goldman Sachs!
The multibillion dollar investment banking firm recently noted that “the average economic return for going to college is falling,” and that the “cost may not be justified” for various prospective students.
Given the rising tuition and the drop of average salary, it’s going to take a hell of a long time to pay that sh*t off.
You can see it more clearly in the bleak graph below:
“For the typical student the number of years to break even on the cost of college has grown from eight years in 2010 to nine years today. If current cost and wage growth trends persist then students starting college in 2030/2050 will have to wait 11/15 years post college to break even. 18 year olds starting college in 2030 with no scholarship or grants will only start making a positive return when they turn 37,” Goldman’s Hugo Scott-Gall wrote.
But as always, there’s a catch. According to EFinancial Careers, the majority of Goldman Sachs employees in 2014 hailed from big name universities with exceptional academic records.
So, there’s that. If you don’t want to work at Goldman Sachs, maybe don’t go to college? Sounds like a great idea. Thanks Goldman Sachs!
