Friday, October 28, 2011
Back to School
This is a great article telling how the government is giving tax breaks to college and school students in order to induce more and more people to get educated. As a result of these tax breaks more people aged 35 plus have enrolled in post high school programs then people aged between 18-24 which shows that older people want to retrain themselves and enter the market. Even at the 9% unemployment rate, employers were having difficulty finding people with the necessary skills which just shows that it is high time labor market brush their skills. Wither or not this tax break will provide the opportunity is a matter of debate.
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I feel that although education is good
ReplyDeletethe Present Value of return for the older people will be lesser...
education is so expensive and for you to get a return on the investment it takes a long time...
the generally accepted rule is that college will give a return of 14% over high school grads.
This can be a good idea but i also agree that for older people the return benefits are not going to be as high as younger people.
ReplyDeleteMore people aged 35 and up enrolled in post high school programs more than younger people because I feel that they can't compete with the younger generation. They need to learn new tools by going back to school so that they can't compete with the younger generation in the long run.
I agree with the above opinion. The tax breaks will definately be a good news for younger generation who are, or are going to pursue higher education. This policy will bring more education chances to people and bring better productivity level in the Long Run.
ReplyDeleteBut it is a different issue for the population aged 35 and up. What they need most is not the simple tax break but more skill training and more job chances.
The majority of adults going back to school for post high school education are usually not going to a place link Ohio Wesleyan. They are going to colleges that have online programs and other schedules that are much much cheaper than what we are paying to go to a four year university. Others are going to vocational school, which is also much cheaper than an four year university.
ReplyDeleteInteresting article. Seems to me that the Education industry is actually making money out of the financial recession, considering that it is relatively expensive to enroll in college, even as a part-time student. Also, the article shows how desperate people are to hone their skills to find employment, which in turn reflects the gravity of the situation.
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