Education - Costs vs. Results

The following is a headline from this morning on BusinessWeek:

The Ever-Costlier MBA Degree

Average tuition for a two-year program is now more than $60,000. Still, most students remain convinced that the rewards are worth the expense

Why are students convinced that the rewards are worth the expense? The article goes on to explain that it is because the average starting pay for someone with an MBA is $90,000 per year.

Personally, I don't understand the thinking here. I never went to college. I found a MUCH better way to make a living than what you are taught in college. And consider this. To earn that $90k per year the average person is likely spending 50-60 hours a week on their job. That's definitely not for me.

Let me ask you something. When you pay $60k for an education is that university so confidant about the education they provide that they are willing to provide you with a guarantee? A guarantee such as this: If you apply what we teach you and you are NOT making AT LEAST $75k in your first 12 months we will gladly refund your full tuition.

I've never heard of an institution offering such a guarantee. Why not? Likely, one of two reasons.

1 - Lack of confidence in their education
2 - Lack of confidence in you

Now I am not in anyway minimizing the value of the education provided. However, if it was REALLY the panacea it is so often presented as being WHY are they not willing to offer a guarantee, to stand behind the value of their education?

I'm proud to be an underwriter with a home business training academy where we actually offer just such a guarantee, the exact same guarantee stated above. Why are we able to offer such a guarantee? Because we KNOW that what we teach works. We KNOW that if you apply what we teach you WILL generate the income you want AND do it from your own HOME.

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