Is College A Good Or Bad Investment For The Future?

959 WordsOct 16, 20154 Pages
When one thinks of college, a person does not question if it is a good or bad investment for the future. Most people would say that college is the greatest decision they made, but is it the best decision for everyone? In their article “Should Everyone Go to College?,” Stephanie Owen and Isabel Sawhill state that students must estimate the value of education associated with number of years to complete a degree to determine the rate of return of education. Owen is a senior research assistant at the Brookings’ Center on Children and Families and Sawhill is a codirector of the Center on Children and Families. There are factors to consider when thinking about a college career including the type of institution to attend and the field of study. It is a common belief that a college education will help a person go further in a career and earn more money over a lifetime. Not all graduates and the degree they chose are equal due to costs of education and the major chosen. The type of institution a student attends, whether a selective private institution or an open admission college can affect a person’s lifetime earnings and the rate of actually finishing their degree. Students who attend the most selective private schools have a lifetime earnings premium of over $620,000 as opposed to those who attend minimally selective schools or open admission schools, having a lifetime earning premium of only earned a third of that (pg 213 para 1). A study completed by Mark Schneider of the
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