I do believe that a college education is worth a lot on multiple levels other than financially. Of course, the knowledge gained and tools learned are irreplaceable, but those factors are hard to measure in value. So I am sticking to the measurable financial cost and financial payoffs of average college degrees and graduate careers. Considering the timeline of the rest of the graduate's career, it is hard to imagine it will not pay off by retirement, however, a lot of college graduates don't exactly put their degrees to use right out of college. I believe that college degrees are losing their overall value as tuition rates increase.
The rate of college tuition is increasing every year by significant amounts. Obviously, pay in the United States is not increasing at a similar rate, for most likely any one position. Does that mean that as college tuition increases more than the overall increase in pay over time, that the degree is becoming less and less valuable? If Jon Doe graduated college 4 years ago and paid $15,000 for a degree then got a job paying $50,000 a year, while Jane Doe graduated this year at a cost of $30,000 for the same degree and got the same job as Jon that is now paying $55,000 a year, doesn't that make the degree less valuable for Jane? If we include the probable hike in interest rates for those loans in that four year span it would seem to make it even less valuable. Here is a video by CNNmoney that explains a reason why tuition keeps going up, and potentially will continue to rise.
At what point is it too expensive? I hope to find statistics and trends that support my inquiry and help to answer how much the average degree is losing in value as tuition increases.
Hi, Dillon,
ReplyDeleteI think you chose an interesting topic. I was surprised when I have read that the cost of colleges increases every year. Your post caused me questions such as:
1.Why in most European countries higher education is free for citizens, but in United States it is so expensive?
2. Where does the money go?
I agree with your opinion that colleges degrees are losing their value, because the price goes up. It seems to me that here is no guarantee that a student will get a good job after graduating from college. I know a few people over the age of 50 which are still paying their college loan.
Interesting topic Dillon, and one that I had to become quite familiar with last semester, as it was an ongoing discussion in my macroeconomics class. I find it interesting that you believe that college degrees are losing their value over time. There is more than one way to assess value, and it sounds to me like you're looking at it strictly from a monetary perspective. On the other hand, one might argue that in other ways, college degrees are becoming more valuable over time, despite their increased cost. As our economy moves more towards high-tech jobs and automation, the amount of jobs requiring a college education will only increase. To that end, another question you may want to ask is what direction is the job market going in? Will having a college degree become more important going forward? I agree that the cost has risen, and at a pace far exceeding inflation, but I would disagree about the example you offered regarding Jon and Jane. The break-even point is further out for Jane, but in the end, she comes out far ahead, even with increased interest rates given the numbers you provided. Overall great topic, and I look forward to reading your research material.
ReplyDeleteGreat post! I think this is a great topic and a very important one, specifically since we are talking about it in a college class. I chose to attend Front Range to get my associates degree at a much lower cost than at a school I will transfer to to get my bachelor’s degree. I know about the rise in tuition over the years, though I didn’t know it was that much. I agree that college degrees are losing their value for many. I specifically chose my degree because the field is growing and there is more opportunity for work, but for many people finding work in their field is extremely difficult. For me, I think that my degree will be worth it, but for some it won’t be. I’m excited to learn more about the topic. I would love to learn more about job growth for fields that require degrees to measure the value. I would also like to know more about living and tuition inflation to get a better understanding of what average costs for college graduates are. Once again, great post and I’m excited to read more!
ReplyDeleteHi Dillion, this is a pretty cool topic that you chose. I find it pretty interesting how certain college degrees are beginning to lose value because colleges are raising their tuition. It would be nice if colleges competed like grocery stores do with their prices. Instead of colleges competing to have the lowest price, they raise it instead. I guess that also comes from the fact that many people think spending more money gives you a better education. Which I believe is true to an extent. I think you should also look into how much money the average student would save if they went to community college for their general ed classes then transferred to a university.
ReplyDeleteHi Dillon I love your topic and i look forward to your next post. your topic alone is enough to make someone who like ourselves in collage right now want to learn more on your topic. so right off the bat i'm a huge fan of your blog.
ReplyDeletewhat I find interesting about your post I would have to say is everything about it. you have a great title that catches the readers eye and in this case probably all of the classes because we can all relate to it on some level.
Maybe go into a little more detail about degrees that wont work and the very linted supply of degrees that are worth collage would be interesting but besides that I like it a lot.
I agree with your topic and I do believe that collage cost to much and somethings is not worth the money.
I find your topic very interesting and something I think most people have questioned at least once. I also believe that degrees are losing their value. The past few years I have had many discussions with friends who have graduated already and are having trouble finding jobs and have massive amounts of loans to pay back.
ReplyDeleteI look forward to reading more posts from you
Dillon,
ReplyDeleteI look forward to reading your future blog post discussing the value of a college education. This topic may be approached from many different angles. The first angle is clearly viewed from a strict financial standpoint, our education is becoming increasingly expensive and can burden students with debt for the rest of their lives. It seems criminal to put such a steep price on educating our society. When I am weighing the price of education, which degree you pursue should has a major impact on my decision. For me, realistically looking at degrees based on the jobs salaries and availability associated with that degree go a long way toward judging worth. The cost will continue to go up and leave more students with a tough decision on whether to attend. I believe it is an individual sacrifice that differs from person to person. Having survived for years with no college degree, I do not believe it is necessary for me to be successful and happy. Having said that, I realized that education keeps me motivated to explore and attempting to get a degree will improve myself. Education is quickly merging into a future with the internet, but the expensive price of a college degree makes it worth it to me.
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