The Value of A College Education
Much has been written lately about the high cost of college. And I agree – the cost of a college education is absurd – no one should be paying $50,000 a year to receive an education and although there are many forms and types of loans, excessive tuition costs create an inequity in our education system.
But no one should underestimate the value of a college education. In today’s WSJ( 9/20/2010), there is an excellent article comparing the lives of two high- school friends – one attended college and one did not.
The facts show college educated individuals earn more than people who did not attend school after high-school and college graduates are more likely to keep jobs during recessions and downturns. The unemployment rate for college graduates in August 2010 was 4.6% vs 10.3% for High School graduates only.
So when pundits say college isn’t worth the expense, before we jump up and agree let’s look at the numbers and the long-term effect of college.