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    Home»Investment»My (brief) time in jail — The Barefoot Investor
    Investment

    My (brief) time in jail — The Barefoot Investor

    By Staff WriterMarch 27, 20243 Mins Read
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    The prisoner walked into the jail meeting room, sat down in front of me, and stared into my soul.
     
    “Hello”, I said nervously.
     
    Silence.
     
    At the back of the meeting room there was a big clock on the wall that ticked loudly every second … perhaps a passive aggressive reminder that the prisoners were ‘doing time’.
     
    A full 60 ticks later she opened her mouth.
     
    “When I came in here …”, she whispered, softly enough that I had to lean forward (even though I knew I should not have been leaning forward), “I brought only the clothes on my back … and your book.”
     
    “Okay”, I said, even more nervously.
     
    “Okay”, she repeated without blinking.
     
    I was in a women’s prison completing the mandatory workplace experience component of my Diploma of Financial Counseling … and what an experience it was!

    Now, there are still people who see TAFE Vocational Educational Training (VET), compared to a university degree, as the educational equivalent of Aldi. But I strongly disagree … and I have both qualifications.
     
    It’s said that uni is for learning and VET is for earning: VET/TAFE qualifications are more practical, shorter, and are generally much cheaper.
     
    And I think it’s a very rational choice for a lot of teenagers who have no idea what they’re going to be when they grow up.
     
    After all, not only does the research say that the average person will have five careers over their lifetime,  the World Economic Forum says that two-fifths of workers will be disrupted by technological change (read: AI) within the next three years.
     
    And that’s why I was surprised this week that the Government released the Australian Universities Accord Report, which set out an ambitious goal of doubling the number of university placements over the next 25 years.
     
    Does it really make sense to spend $40,000 on a degree you may never use?
     
    (Today many people are finding their HECS-HELP debts are rising faster than they can pay them off. Last year the debt was increased by 7.1%; this year it will jump by another 5%.)
     
    Don’t get me wrong. I don’t want my doctor to have a ‘Diploma in Appendix Removal’ from Broadmeadows TAFE. There is absolutely a need for quality tertiary education.
     
    However, it’s also true that many universities have become highly profitable diploma mills: rapidly ratcheting up their fees, jamming in full-fee-paying Chinese students, and all too often delivering a Zoom-like learning experience. Which may explain why the number of students studying for a degree has fallen by more than 13% since 2016.
     
    TAFE courses, meanwhile, are widely available and increasingly well funded. In fact, the prisoner I was speaking to was getting her life back on track from behind bars by doing … a VET course.
     
    Tread Your Own Path!

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