Posted on 02/16/2023 7:11:48 AM PST by SeekAndFind
Is it always financially worthwhile to obtain a four-year college degree? Answer: no.
It depends on the return on investment (ROI). The ROI is calculated by estimating the future earnings from the undergraduate degree less the costs of obtaining that degree, including the income lost while attending college or university to get the degree. The future earnings from the degree will depend on the economic value of the degree. Some degrees have much more economic value than others.
An Austin think-tank, the Foundation for Research on Equal Opportunity (FREOPP), has performed the herculean task of creating a database of the ROI for 1,775 public and private universities and 30,000 bachelor's programs. Want to know the highest-ROI major at Arizona State? It's construction management, with a positive ROI of $1,035,357. Want to know the worst at ASU? It's a degree in music, with a return of minus $391,887. Of the ten majors at New Mexico Highlands University, would you like to know the only one that has a positive ROI? It's all here.
FREOPP has also developed the fascinating concept of most valuable program (MVP). The highest ROIs are for majors from elite non-profit colleges or universities. By way of example, a Cal Tech computer sciences grad can be expected to obtain a positive ROI of $4,409,147 over his working lifetime. Problem is that Cal Tech awards only about two dozen computer science degrees per year. What about a program with a high ROI that graduates hundreds? The economic impact would be enormous. By this standard, the #1 MVP program in the country is the nursing program at the University of Texas, Arlington. Between 2015 and 2017, it graduated 5,363 with a per capita student ROI of $743,465 for a total of $3,987,197,432.
(Excerpt) Read more at americanthinker.com ...
Anytime a question includes the word “always,” the answer is NO.
You’re right, but don’t you want to know which COURSES one takes make it financially worthwhile, and which are useless?
Disappointed that Hillsdale College was not included.
“Anytime a question includes the word “always,” the answer is NO.”
This article completely disregards motivation, ambition, interest, and mental stability.
Everyone should know a skilled trade, one that’s in demand. Plumbing, hairdressing, truck driving, whatever. And that’s what I went to college for, to learn a skilled trade (chemistry in my case).
So if you’re not going to college to learn a skilled trade that’s in demand, you are better off not going to college. Look elsewhere.
And as a side note, there’s nothing wrong with going to college to learn something fluffy, as long as you pair it with a skilled trade. A friend of mine went to college, and got a music degree. He paired it with a major in chemistry. It was the chemistry degree that got him a good paycheck.
Me= Geology and Pharmacy.
The return on Investment was very good. If a major is easy, it probably will not pay well.
The proper response would be 3 year degree programs. A year of stupid core courses feed the college industrial complex.
Then there’s the community colleges-2 years. Trimester system would allow students to get their certificate in 15 months provided they don’t take summers off.
Last. Allow 16 year olds to take the GED test and move on. Tap into their restlessness. They’ll even work harder in Jr. high.
Of course not. It totally depends on the degree you study/pay for.
Spending hundreds of thousands of dollars for almost any “Art” degree is a waste of money.
However, almost any STEM degree will pay for itself.
I watched a movie last night on Netflix called “Emily the Criminal”. The main character had $70K in college debt from an Art school degree. She was working as a caterer delivery person. Then she found a new way to make money. Actually a pretty good movie.
apprenticeships right out of high school. Maybe beginning in high school?
My PhD is in Philosophy, I worked as an academic librarian using the MLIS. The PhD just got me the title and a step on the pay scale
Apprenticeships-I don’t think so. Too much immaturity for industry to deal with. Young folks still need a nurturing environment before they’re released in the real world.
Here is the ultimate answer: It depends.
Here is the ultimate answer: It depends.
I know the President of the local Community College in NH.
Their number one placement degree is Auto body repair. In fact most of their students tuition is being paid for by one of the local auto dealerships.
The number two program is Automotive Mechanic. Also financed somewhat by the local auto dealerships.
She is trying to set up a Airplane Mechanic program and a Air Traffic Controller program.
She realizes the need for these two programs because Daniel Webster College used to teach them here until they went out of business.
Ethnic, Cultural Minority, Gender, and Group Studies.
This doesn’t seem like a good choice. I wonder why?
Is this calculating just tuition?
I’m glad I graduated HS in 77 as I could see this college for everyone movement coming back then. At least we still had great VoEd programs that allowed us to get entry level jobs in mechanics, autobody, welding, and drafting.
I advise the young people I’m around to get a job, get some training, and figure out what they want to be in life before directly going to college and wasting time and money.
Go apply to the union halls for apprenticeship opportunities. Join the military.
I just purchased an excavating company and finding qualified heavy equipment operators and even mechanically minded laborers and pipe layers is next to impossible.
You are correct it depends. It depends what the college degree is in. Some college degrees are worthless in the job market. Other degree programs lead directly to job and career paths.
You don’t need a resource.
You just need common sense.
If pursuing a STEM degree, then yes.
All others, waste of time and money.
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