<p>The New York Times article was very interesting. The young woman profiled there ran up nearly $100K in debt to attend NYU, and has not made a dent in repaying it at her current (low) income level.
But here’s the key point, buried at the end of the article:</p>
<p>“She recently received a raise and now makes $22 an hour working for a photographer. It’s the highest salary she’s earned since graduating with an interdisciplinary degree in religious and women’s studies.”</p>
<p>A degree like that is a consumption item, not an investment item. Why this student and her mother thought that a degree in “religious and women’s studies” would lead to a good and high-paying job is quite beyond me.</p>