When College Isn’t Worth It
Career College Central summary:
The New York Times yesterday that once again beats the drum: Despite skyrocketing costs, a college degree is a good investment. In fact, MIT economist David Autor writes in the journal Science that the value of a degree is rising. College grads made almost twice as much per hour in 2013 as workers without a four-year degree. And the lifetime value of a diploma is now around a half-million dollars, even after you factor in tuition.
Well, when is college not worth it? Because sometimes it isn't. Lots and lots of people who enroll in college just don't finish. And, to get an honest accounting of a diploma's value, these noncompleters (that's the term of art in the research —"dropouts" is a bit too judgmental) need to be part of the math. Otherwise, it's like the latest fad diet touting "befores" and "afters" without counting those who didn't stick with it.
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