Phi Beta Cons

College Doesn’t Always Pay Off

The American Enterprise Institute recently published a new study entitled “Is College Worth the Investment?

The answer is that for many students, the answer is no. Looking at salary data for a wide array of schools, author Mark Schneider finds that graduates of many schools have earnings that don’t justify the cost of borrowing, even at federally subsidized rates. 

The study supports the argument I’ve been making for years: We have a glut of people with college credentials working in low-paying jobs, either because they don’t have much in the way or marketable skills or because there simply aren’t enough “good jobs” to go around.

Will the groups pushing the “we’ve got to get more people through college” idea pay any attention?

George Leef is the the director of editorial content at the James G. Martin Center for Academic Renewal.

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