Investment in the education system by government is experiencing setback in several countries. This has led to increased tuition and other academics related fees. And because knowledge is key to growth and development, students often take on huge loans to fund an education. Student debt is the result. Education is an investment and should be analysed based on cost/benefit.
Student debt can be repaid if a candidate gets a job or business with returns above the debt value. Obtaining a loan from the bank to pursue an education is a wise decision. On average, annual salaries can be about $50,000 per year. But for high end jobs, they could rise above $80,000. Depending on how lucky a person is, they could repay a loan in 3 years. Without an education, one is more unlikely to earn in the high income gap. Calculation of the payback period, net present value (NPV) and other decision models, it is necessary to make it an objective rather than a desire.
“This amount is huge if one understands the implications. More value can be placed on this amount if the students imagine being handed a cheque of $200,000.“
Pete Kadens has offered to pay complete school fees for students in 5 colleges in Chicago. This amount is huge if one understands the implications. More value can be placed on this amount if the students imagine being handed a cheque of $200,000. It is an opportunity to invest their personal monies which would have otherwise been used for a university education to other investments.
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