HIGHER EDUCATION BUBBLE UPDATE: Washington Post: Why college isn’t always worth it: A new study suggests the economic return on a college degree may be a lot more modest than you think.
“‘Ticket’ implies a college degree is something you can just cash in,” said Alan Benson, assistant business professor at the University of Minnesota. “But it doesn’t work that way. A college degree is more of a stepping stone, one ingredient to consider when you’re cooking up your career. … It’s not always the best investment for everyone.”
Benson, along with M.I.T.’s Frank Levy and business analyst Raimundo Esteva, co-authored a new paper, released this week, examining the value of public university options in California. Factors like how long it takes to complete a degree — often longer than four years — and whether students make it to graduation, he learned, can significantly diminish the value of pursuing higher education. . . .
“The return to a college degree in 2010,” researchers wrote, “could be less than the interest on unsubsidized Stafford loans.”