...the wages of college educated workers have been increasing more slowly than the cost of college, which means that the returns to college (monetary ones at least) have been falling. As students take out more and more loans (over $21,000 on average according to the Project on Student Debt), we may see more and more 18 year olds make the decision that college is simply not worth it.My friend (and college professor), Napp Nazworth has more thoughts on the matter.
The return on college may still (probably is?) positive on average, but as long as tuition continues its explosive growth, the return on college will fall, and... will be seen as the leading cause in the decline of enrollments.
Wednesday, July 09, 2008
The Diminishing Returns of College
The declining value of a college education?