I found this recent article on Daily Finance on how eBay halts indebted Purdue Grad’s diploma auction very amusing. While I feel sorry for the alumnus, it strengthens my belief that a degree in the philosawfical isn’t worth the printed paper you hand over for the printed parchment in return. As per the article, the graduate said that his philosophy degree has not given him the means to earn enough income to cover his $470 per month obligations to Sallie Mae.
A degree is only an investment if it increases your income — and since most liberal arts degrees don’t lead to a job, these degrees are just expenses. So if you can’t afford them, i.e. if you can’t afford to flush the 30K, 50K, or 100K down the toilet that some institutions will charge you for the privilege of obtaining the degree, don’t borrow. It’ll only end in tears, as it did for this poor soul who racked up 97K in debt getting degrees in religious and women’s studies.