Key points from the article that I think are worth specifically mentioning:
The college wage premium still remains high. College educated people earn a lot more money than those who don’t have degrees, on a per hour and per year basis.
The college wealth premium has shrunk significantly, in that paying tuition and delaying entrance into the workforce is a huge up-front cost that requires much more time in the workforce to recoup, compared to previous generations.
The variance in outcomes means that even if college is a good financial decision for a majority of students, doesn’t mean that there aren’t an increasing number of graduates for whom going to college sets them back financially. Key factors include school, major, actual out-of-pocket cost of attendance, and, well, parental wealth and socioeconomic status.
Still, college is still worth it if you can attend for cheap (lower-cost schools, financial aid, scholarships, outside tuition assistance, education funds that are tax advantaged if used for education, etc.), if you choose a high earning major, or have the socioeconomic background to take advantage of the additional credential. It’s a tougher bet if you choose a less lucrative major, attend a more expensive school, or might not finish on time. And, unfortunately, it’s a lower-odds bet if you’re not white or rich or both.
The other social and political issues are interesting, but I think it’s still worth maintaining an eye on the return on investment, and making sure that’s clear to everyone making the choice of whether to go to college or not (or whether to encourage kids to go or not).
Key points from the article that I think are worth specifically mentioning:
Still, college is still worth it if you can attend for cheap (lower-cost schools, financial aid, scholarships, outside tuition assistance, education funds that are tax advantaged if used for education, etc.), if you choose a high earning major, or have the socioeconomic background to take advantage of the additional credential. It’s a tougher bet if you choose a less lucrative major, attend a more expensive school, or might not finish on time. And, unfortunately, it’s a lower-odds bet if you’re not white or rich or both.
The other social and political issues are interesting, but I think it’s still worth maintaining an eye on the return on investment, and making sure that’s clear to everyone making the choice of whether to go to college or not (or whether to encourage kids to go or not).