Let’s Clarify the “College is Worth It” Conversation
By Andrew Kelly
The current debate about higher education has reached an odd status quo: tuition prices and student debt are up, wages for college grads are down, and the wage premium attached to bachelor’s degrees is higher than ever. We’re questioning whether college is “worth it” at the same time that completing some form of postsecondary education is more important to economic success than ever before.
Parsing these trends—and figuring out what they tell us about the value of going to college—is complicated business. To do it right, you’ve got to consider all possible outcomes and the probabilities attached to them, specify the right counterfactual, consider selection effects, and so on. READ MORE HERE