September 24, 2010

The Questionable Monetary Value of a College Degree

I see they haven't enabled comments on this new article crowing over the supposed financial advantage of a college degree. No wonder.....there are an awful lot of unemployed and under-employed college grads these days. Their comments can be seen on articles about the economy, and believe me, most of them are not happy.

Note that:

  • This study was done by the College Board. Not exactly unbiased! In fact, this article reads more like a PR piece than a news article.
  • It states that college grads make more money than high school grads. Since many college grads are working retail jobs, thus taking them away from high school grads, I guess that's true, but it's sure not a reason to go into enormous student loan debt.
  • The unemployment rate for college grads is half that of high school grads, but again, that makes sense when the college grads take the jobs the high school grads once had, selling books and making coffee drinks.
These articles seem to be popping up more frequently. Seems like the colleges are getting a bit panicky because word is getting out that not all college degrees will guarantee jobs after graduation. In the future, this will be even more true.

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