Math model proves that taking summer classes in college pays off BIG

It may sound counterintuitive but working during your college summer breaks could actually be costing you a fortune and our mathematical model proved it. In this week's video we use estimations simple algebra to build a model in spreadsheets to analyze just how much money college students are missing out on by taking summer breaks and graduating in 4 years versus taking classes through the summer and graduating in 3 years.
Crunch the number yourself here: docs.google.co...
Math The World is dedicated to bringing real world math problems into the classroom and answering the age old question “when will I ever use this?”
We use unique topics for algebra, trigonometry, calculus, and much more and go beyond context problems and use a technique called mathematical modeling to find solutions to real world questions and real world problems. These videos are great for students who plan to enter technical fields that require real world problem solving, and can be a great resource for teachers looking for ways to bring real world contexts into their classroom.
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Created by Doug Corey
Script: Doug Corey and Jennifer Canizales
Audio: Doug Corey
Animation: Jennifer Canizales
Music: Coma Media
© 2023 BYU

[@MathTheWorld]

I am interested to know how much money it would take to get people to go to summer school. What is the least amount of money I would need to offer you to take classes full-time through the summer. You can give it to me in a flat sum (like $5000 for the whole summer, rather than so much per/hour). Please reply and let me know.

[@ArtArtisian]

I would have done this for the cost of tuition, travel, and books (for my undergrad, around 15k total for a full time summer semester. 10k for half-time). Summer tuition was high, scholarships were rare for summer, commuting was more difficult, course options were limited, and study groups were less effective.

[@BoBandits]

Go to college. Don’t end up like us: commenting on YT videos.

[@kevinyonan9666]

Engineering major here. I have to work the summers because I need the money now to help pay for expenses + engineering isn't easy to get into without experience, even with a degree.

[@_Matchu]

No mom trust me working a job actually LOSES me money!!! I saw it in a youtube video!!!

[@BlazeIsEpic]

well yes if you are actually doing summer school rather than doing nothing instead of a job

[@jcorey333]

For the three summers of my college career, I took classes for two of them and did an internship my last one. Especially with the way prerequisites mattered, I'm definitely glad I took the summer classes, it sped things up. I'm definitely glad I took the internship for my last summer, it helped me land my current job. Overall, good advice! I like the idea to think about opportunity cost. I do wish you would have spent a little while really driving home what the numbers mean when you talk about how much money you're losing per hour. Also, I know a lot of people tend to prefer 8% as a conservative stock market estimate.

[@ProsodyMusic]

Assuming you need 120 semester units to earn a BA or BS, you would need to complete 30 units in 2 summers. This seems much easier said than done, as the summer semester at most universities ranges anywhere from 4-10 weeks, so you would have two summers of doing the equivalent of 24 units (if we consider the course load of 15 units accelerated by the fact you're losing around 6 weeks from a normal semester). Also, not considered here is the amount of money many student's save by living at home during summers (though, summer sessions can also have lower fees, so perhaps that balances it out somewhat). All and all, I think that it might be feasible to take enough units during summers to advance your graduation by a semester, or perhaps early graduation at the end of a third summer. Graduating an entire year early though, without also taking an extra heavy course load during all of your semesters, seems like a stretch.

[@arugula2787]

Very shocking to see my college in the first frame of the video lol

[@funkee9]

As someone who took "spring term classes" (2 months) but took off for the summer (2 months), I squeezed my studies into 3.5 semesters. So I agree with the above video but it is mentally exhausting. There is cost if you burn out!

[@ChristopherPuzey]

Assuming 120 semester hours for a degree over four years this would require you to take 15 semester hours each summer. Summer is typically half the length of the fall and spring semesters. This would be an equivalent workload of 30 semester hours during fall or spring. No college would allow this.

[@MathTheWorld]

Actually, many do. Many colleges have two periods over the summer when you can take classes. The university that I teach at has two terms, each goes twice as fast as a fall/winter semester. 7 credits in one term (like a 14 credit Fall), and 8 in another (like a 16 credit Fall), is doable. That is what I did to finish in 2 years, 8 months with my degree.

[@gabedarrett1301]

I'm taking 6 years of undergrad; in engineering, taking 5+ years is normal bc there are so many courses. I'm also double majoring and getting a math minor. Hopefully it'll be worth it!

[@juandaviduribe8267]

Yeah, but not everyone wants to take summer classes. People already have their expected graduation time accounted into their finances

[@MathTheWorld]

Yes that is true! But perhaps knowing how much extra money one could make might sway someone to pursue a 3 year graduation!

[@ArtArtisian]

I'd like to point out that many scholarships don't cover summer classes, so for some (or many at state schools) classes can be taken for free during the year suddenly cost 4k+ over the summer. At every university I've been at, the first few classes cost more tuition than later hours. Thus you could get the same 3 year rate without any extra cost by studying these courses on your own over the summer, and taking 18+ credit hours during the school year (having done all the readings for 1/2 or 1/3 of your courses). This gives you a similar schedule and is cheaper tuition wise. It also affords you better cost of living (you can be anywhere for the summer), lets you take advantage of short career building opportunities, and 'fails upwards' into a 4 year (normal) graduation rate if something in life goes wrong (whereas summer classes can leave you without a degree and with more debt). I don't think the video is dangerously wrong; but I do not think its conclusion is strong. Some summer classes are worthwhile, many are not.

[@MathTheWorld]

This is a great point to make thank you!

[@Kalain2237]

Fascinating.

[@MathTheWorld]

Thanks!

[@t0rg3]

I don’t buy your argument. When I graduated from uni it was straight into unemployment. My biggest asset in job hunting was the little “real life” job experience I gathered alongside my studies (still not enough).

[@mistertheguy3073]

Very interesting! Just wondering, is 60k a normal starting salary?

[@Matt-kl1pg]

In a country where Elon Musk is demanding a salary of $56 billion, anything is plausible

[@codemaster4261]

Depends on the country and what you studied. 60K is normal for CS or engineering in Germany. In thr US it could be double

[@MathTheWorld]

The average salary in the US for a college graduate (4 yr degree) is mid to high 50's. But it varies a lot by field. If you're in a high demand STEM field 80K to 90K is more typical.

[@mistertheguy3073]

@@MathTheWorld starting salary right out of college? I’m graduating soon in physics and mathematics :)

[@mistertheguy3073]

Fascinating how the American uni system gives rise to these different tactics compared to in Europe

[@MathTheWorld]

What are the differences? I don't know the European model very well.

[@mistertheguy3073]

@@MathTheWorld it varies a bit, but usually your degree is 3 years and summers are 2 months of no classes (no summer schools exist). Then most people get a graduate degree which is 1 year for non stem and 2 years for stem.

[@elmer6123]

Especially when the government pays off your student debt.

[@howtomakealmostanything3484]

This is a completely flawed analysis, from the perspective of someone who's spent more nearly 15 years in academia at some of the world's top universities and interacting with hundreds of students who went on to become movers and shakers of the world. The advice on this video must be coming from someone who has no connection with the real world but lives in their little bubble of assuming that their financial models are accurately describing the world. Get outside of your bubble and learn a few things about the world before giving such terrible advice.

[@MathTheWorld]

Can you explain more about the flaws you see?

[@howtomakealmostanything3484]

Mostly having to do with the assumptions made, which are not even listed and simply taken as factual when in fact false. A proper analysis, especially in mathematics or physics must always start by examining what are all the assumptions made explicitly or implicitly. In this case, there is a dozen false assumptions being made. One of the biggest is that the value of college is in the classes that you take. Maybe that's true in most places but in ivy League, MIT, Stanford - it's the environment itself, the people you meet, and the opportunities you get during your stay there. Leaving school early only makes you shoot yourself in the foot.

[@eugenetswong]

@@MathTheWorld 1 thing that you assumed is that the person looking for work can find it, and that the hidden job market is accessible. People have to send out hundreds or resumes just to get an interview. Companies get thousands of applications for just 1 job, and then people get laid off before the 3 month trial is over, due to over hiring. In my case, I am really bad at finding work. It's not fair, but it's not unfair.

[@MathTheWorld]

I think your thoughts apply to a very small percentage of college students. Most aren't going to Ivy League level universities or trying to become "movers and shakers". Most are trying to get a better education to improve their economic opportunities. I do agree with you that if you have such lofty goals, that speeding through is not the best option. I know several students that took a few extra years to finish their Ph.D. so they could continue to study and collaborate with top researchers, get multiple publications, and work on more research projects/grants. This way they were well on their way towards establishing a research agenda and were more competitive for the top jobs when they opened.

[@buzzybola]

...assuming they can land a career related to the degree they went to school for.

[@MathTheWorld]

in this economy it would be a miracle 🙌