Gerry Canavan

the smartest kid on earth

Yes, Going to College Is ‘Worth It’

with one comment

David Leonhardt:

Second, the returns from a degree have soared. Three decades ago, full-time workers with a bachelor’s degree made 40 percent more than those with only a high-school diploma. Last year, the gap reached 83 percent. College graduates, though hardly immune from the downturn, are also far less likely to be unemployed than non-graduates.

…The Hamilton Project, a research group in Washington, has just finished a comparison of college with other investments. It found that college tuition in recent decades has delivered an inflation-adjusted annual return of more than 15 percent. For stocks, the historical return is 7 percent. For real estate, it’s less than 1 percent.

More from Matt Yglesias, including charts like the one at right. Note too as Leonhardt does that “don’t go to college” is almost always advice for other people:

Or think about it this way: People tend to be clear-eyed about this debate in their own lives. For instance, when researchers asked low-income teenagers how much more college graduates made than non-graduates, the teenagers made excellent estimates. And in a national survey, 94 percent of parents said they expected their child to go to college.

Then there are the skeptics themselves, the professors, journalists and others who say college is overrated. They, of course, have degrees and often spend tens of thousands of dollars sending their children to expensive colleges.

I don’t doubt that the skeptics are well meaning. But, in the end, their case against college is an elitist one — for me and not for thee. And that’s rarely good advice.

Written by gerrycanavan

June 27, 2011 at 12:21 pm

One Response

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  1. Exactly right: the more proles there are without college educations, the more MY KIDS will be able to enjoy the elite status which they deserve, etc.

    zunguzungu

    June 27, 2011 at 12:29 pm


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