300k in loans for 50k a year? The emergence of elite masters degrees is strangling student borrowers

[Silver Surfer]

Nobody told them to get that degree

 

[mamba]

I cannot imagine having that type of debt for something that isn’t a hard, revenue-generating asset.

 

[Sonic Boom of the South]

29-year-old Zack Morrison, of New Jersey, who earned a Master of Fine Arts in film from Columbia in 2018 and praised the quality of the program. His graduate school loan balance now stands at nearly $300,000, including accrued interest. He has been earning between $30,000 and $50,000 a year from work as a Hollywood assistant and such side gigs as commercial video production and photography.

 

[King Poetic]

I know a chick who has a master’s in social work and makes around 17 bucks a hour

 

[Shang Tsung]

This is the reason I stayed in-state and chose engineering

 

[No1]

Stop getting bullshyt ass degrees. I don't see Doctors, Judges, Pharmacists, Dentists, or Finance majors complaining.


Look at this bullshyt.


"Master of Arts in film and media studies"

"Master’s degree in publishing"

"Speech-language pathology"

"MFA film program"

"Aspiring screenwriters and directors"

There’s no such thing as a bullshyt degree but there’s less return on investment for certain degrees. They didn’t think it through.

 

[Ezekiel 25:17]

There’s no such thing as a bullshyt degree but there’s less return on investment for certain degrees. They didn’t think it through.

Yes there is. What can you do with an Arts degree?

 

[Ezekiel 25:17]

It's like these dudes don't do any research about the job prospects before choosing a major. A quick Google tells you which careers are worth the debt and which ones aint.

I ran into a lot of those folks in my community college. Majoring in Music. So many folks want to be rappers, Hollywood actors, tv stars

 

[Ezekiel 25:17]

Your degree should be valuable no matter what it’s in. It’s not like people are telling these kids to pick worthwhile degrees or whatever. These loan fools just sit back and get money. They’ve done this for years and years smh.

Depending on how many people are in that field is what the degree is worth. How many people major in Chemical Engineering vs Theater Arts?

There's value in every degree alright

 

[pickles]

Stop getting bullshyt ass degrees. I don't see Doctors, Judges, Pharmacists, Dentists, or Finance majors complaining.


Look at this bullshyt.


"Master of Arts in film and media studies"

"Master’s degree in publishing"

"Speech-language pathology"

"MFA film program"

"Aspiring screenwriters and directors"

Are you fukken serious? Doctors are always complaining. I always wondered why doctors are so money grubbing, because they have so much student loans to pay. Always complaining they have too much work, not getting paid what they are worth. I know a doc who is close to retirement age and still has student loans to pay. He is like I would rather put money in my retirement account because the interest is higher than the interest on the student loan.

 

[Vandelay]

Filmmaking should be a trade school program. Shouldn't be a degree at these top tier schools paying top tier tuition and come out making 40-50k a year.

I get that 800 people applied for a program that had 72 spots and self accountability is definitely an issue, but most of those 72 spots are barely going to go on to be any more than production assistants and gaffers. It's a system that's going to collapse on itself. Especially as you really don't need to go to school to be a filmmaker.

 

[homiedontplaydat]

Cant believe ppl still falling for the liberal arts student loan scam. You'd be better off paying a few thousand out of pocket to go get a trade aka a real job

 

[No1]

Yes there is. What can you do with an Arts degree?

Get a job making 50k like the people in the article

 

[Ezekiel 25:17]

Get a job making 50k like the people in the article

And with so many people getting that easy Arts degree, how many $50k jobs are there?

 

[filial_piety]

300k? this is just absurd....I read this in the WSJ last night and Idon't get it and never will....unless you're becoming a MD/Surgeon...I don't see how you can justify in your mind, accumulating that amount of debt...I mean I get it...it's columbia...i'm at an ivy now paying out of pocket so I get the attraction to the quality and name brand....but once you're in grad school...you're a full grown adult and should already have a sound understanding of how much you are setting yourself up for.

At 300k with compounding interest...you are really setting yourself up. You'll probably end up with a 2k a month student loan payment for the next 40 years