Tags: Film Dissertation QuestionsSilas Marner Religion EssayThesis On Protein PurificationCustom Essay Writing Services In UkDescriptions EssayHelp With English Homework
The anecdotes may be real, yet the conventional wisdom often exaggerates the problem.Among four-year college graduates who took out loans, average debt is about ,000, a sum that is a tiny fraction of the economic benefits of college.We also need to find other means for lifting living standards — not to mention ways to provide good jobs for people without college degrees.
Those returns underscore the importance of efforts to reduce the college dropout rate, such as those at the University of Texas, which Paul Tough described in a recent Times Magazine article.
But what about all those alarming stories you hear about indebted, jobless college graduates?
This calculation is necessarily imprecise, because it can’t control for any pre-existing differences between college graduates and nongraduates — differences that would exist regardless of schooling.
Yet other research, comparing otherwise similar people who did and did not graduate from college, has also found that education brings a huge return.
Not so many decades ago, high school was considered the frontier of education.
Some people even argued that it was a waste to encourage Americans from humble backgrounds to spend four years of life attending high school.
This amount is then subtracted from the lifetime gap between the earnings of college graduates and high school graduates.
After adjusting for inflation and the time value of money, the net cost of college is negative 0,000, roughly double what it was three decades ago.
The average hourly wage for college graduates has risen only 1 percent over the last decade, to about .60.
The pay gap has grown mostly because the average wage for everyone else has fallen — 5 percent, to about .50.