Articles questioning the “worth” of a college education seem to be plentiful in recent months.
Let’s take a look at some statistics and maybe this information will help some admission counselors respond when this question is asked: is a college degree worth the cost?
According to an article written by Catherine Rampell in The New York Times last year:
- The unemployment rate for college graduates last year was 3.9%, compared with a 7.5% unemployment rate for the work force as a whole. Among all segments of workers sorted by educational attainment, college graduates are the only group that has more people employed today than when the recession started.
- The number of college-educated workers has increased by 9.1% since the beginning of the recession.
- Employment for students who have some college credits, but not a degree, decreased since the beginning of the recession.
- In 2012, the typical full-time worker with an undergraduate degree earned 79% more than a high school graduate. Thirty years earlier the percentage was 48%.
- As of April 2011, about 32% of Americans had a college degree. Twenty years ago this statistic was 22%.
- According to an analysis from the Hamilton Project at the Brookings Institute in Washington, the benefits of a college education was equivalent to an investment that returns 15.2 % a year.
- The media has focused on the minority of college graduates who are surfing the web looking for work, living in their parents’ basements and working in jobs that a short while ago, did not require a college degree. All that may be true for some graduates. It’s not true for all.
In next week’s blog you will read about the marriage of enrollment managers with career counselors to achieve enrollment success.
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