In today’s Pope Center piece, Jenna Ashley Robinson continues examining the case that there is a higher-education bubble that may burst or at least deflate. Among other evidence she presents, long-term average earnings for individuals with BA degrees have not risen much and in the the last few years have dipped. Also, degree holders seem to be learning less, as shown by the National Assessment of Adult Literacy.
Yes, on average, those with college degrees continue to earn more than those without them, but not everyone is average. A large number of marginal students are lured into college, spend much time and money there, and perhaps even get degrees — but find employment in jobs that high-school grads can do.
George, have you considered the very real difference between getting a job, and being promoted or getting significant raises? It's anecdotal evidence, but still valid to mention that I have personal knowledge of dozens of exceptional employees who were denied promotion because they did not have a 4-year degree, and many others whose raises were never more than COLA.
The essential problem I see, is a habit in many companies and in society to see college as a continuation of general education, grades 13-16 if you will, rather than the acquisition of specific knowledge and skills to help the individual excel in their chosen field. While college is not the best course for everyone, therefore, the matter comes down to pragmatic evaluation of opportunity and cost for young people, and as things stand there is a punitive standard for not choosing college.
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