Many American students are lured into graduate degree programs with the notion that more education always pays off. This or that degree, it’s often claimed, will open the door to a lucrative career.
Is it true? In today’s Martin Center article, Grace Hall examines the evidence that many graduate degrees do not pay off.
She writes:
Your choice of major — or graduate degree — matters. This may seem like common sense to the casual observer, but many students seem to have the attitude that if you graduate with a bachelor’s and do not know what to do, simply returning to school for a graduate degree is the answer. These data clearly show that students need to have a plan. Students should consider all the income they will not be able to earn while in school, the cost of the education itself, and the return on investment they can reasonably expect once they graduate.
The problem of expensive education that doesn’t pay off might also diminish if we got rid of federal student aid.
Read the whole thing.