Is College Still Worth It?
Over 40 million Americans are paying off a combined $1 trillion in student loans. So does a college degree out weight the high cost?
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In the U.S., higher education has never been as expensive as it is today. Over the past 35 years, tuition costs have risen 750 percent, compounding over a trillion dollars in student debt. That's leaving many people wondering if a bachelor's degree is worth it at all. At the same time, underemployment rates are on the rise, which measure college graduates taking jobs that do not require a college degree. On average, college graduates are leaving school with $33,000 in debt and salaries for new college grads are relatively low, especially for those with arts and humanities degrees. Furthermore, more and more research indicates that graduating from a high-ranking school vs. a mid-tier institution bears little on your income potential.
What do you think? Let us know your thoughts in the comments below.
Does Going to a Selective College Matter? (theatlantic.com)
"The researchers compared the earnings of individuals from schools with different selectivity rankings, controlling for their majors and their level of degree attainment (e.g. those with solely bachelor's degrees were compared to other's with solely bachelor's degrees) 10 years after they completed undergrad."
US Bureau of Labor Statistics Unemployment Figures (bls.gov)
"Employment status of the civilian population 25 years and over by educational attainment"
America's Debt Help Organization (debt.org)
"With Americans owing an estimated $1 trillion in student loans, it's important that you take control of your college debts today to protect your financial future."