Education: Is college still worth it?

College degrees have become a waste of money for too many people, said Glenn Harlan Reynolds in The Wall Street Journal. Easy student credit has turned higher-education costs into a dangerous bubble and “left legions of students deep in debt without improving their job prospects.” Students today graduate with an average debt of around $30,000, and many alumni of private and out-of-state colleges “end up owing much more.” Yet four out of 10 graduates still end up in jobs that don’t even require a college degree. “This unsustainable arrangement” is backfiring for institutions, too, which now face falling enrollment and downgraded credit ratings “over doubts about the viability of their high tuition/high overhead business models.” Families should wise up and carefully consider their higher-education choices. That includes picking practical fields of study, checking a college’s price tag, “or skipping college altogether to learn a trade.”

Skipping college is not good advice for everyone, said Ricardo Azziz in HuffingtonPost.com. According to a recent poll, “those who see the greatest value in higher education are those who already have a college degree and those who perceive they have the most socioeconomic advantages to gain,” particularly women and minorities. In general, they’re right in seeing it as a worthwhile investment: An adult with a bachelor’s degree earns an average of $650,000 more in a lifetime than one with just a high school degree. And while college graduates are definitely still struggling to find jobs today, “declines in employment and wages were considerably more severe for those with less education.”

Besides, it’s not all about the money, said Jim Picht in The Washington Times. “A purely financial return on investment isn’t everything.” Many students choose their fields of study for their personal satisfaction, and that can be a wise choice. “But it is essential that you make the college decision with open eyes.” Choose your major carefully, and if you’re unsure, test the waters with a less expensive community college close to home to reduce the cost of housing. Remember that “you can get as good an education at a good state school as you can at an Ivy League school,” and to get a leg up on your future classmates, consider taking some time off before college to work. “The gains in maturity between the ages of 18 and 20 can be dramatic, and they can give you a huge advantage in study habits and in the competition for grades.”

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