Robert Reich: Why College Is Necessary But Gets You Nowhere
Why College Is Necessary But Gets You Nowhere
MONDAY, NOVEMBER 24, 2014
This is the time of year when high school seniors apply to college, and when I get lots of mail about whether college is worth the cost.
The answer is unequivocally yes, but with one big qualification. Ill come to the qualification in a moment but first the financial case for why its worth going to college.
Put simply, people with college degrees continue to earn far more than people without them. And that college premium keeps rising.
Last year, Americans with four-year college degrees earned on average 98 percent more per hour than people without college degrees.
.....(snip).....
But heres the qualification, and its a big one.
A college degree no longer guarantees a good job. The main reason it pays better than the job of someone without a degree is the latters wages are dropping.
In fact, its likely that new college graduates will spend some years in jobs for which theyre overqualified. ................(more)
The complete piece is at:
http://robertreich.org/post/103472733520