The Value Of Higher Education

1038 WordsMar 6, 20175 Pages
Kristina Laniewski Dorothy Hurlburt RHT102 March 3, 2017 The Value of Higher Education Given the rising cost of higher education, the state of higher education is cemented given the value For some, higher education is an expectation, perhaps engrained in their minds by family. Yet as tuition prices continue to increase, payment options remain limited – scholarships, loans, and grants. College has a price tag and it must be paid, in some way. In fact, Andrew Hacker and Claudia Dreifus share that tuition charges as public and private colleges have doubled (2010). Furthermore tuition itself presents a financial burden second only to a home mortgage. With a lofty price tag, and potential for staggering loans – and debt – many question the…show more content…
By using this as a model for understanding the value of investment in higher education, the relation between education and wage potential is quite clear as the median income for doctors is an estimated $189,000 (Smith 2012). The median household income is $56,516 (Luhby 2016). The Bureau of Labor Statistics published information regarding median weekly earnings and educational attainment (2015). A doctoral degree holder brings in $1,623, professional degree is at $1,730, a master’s $1,341, and a bachelor’s degree at $1,137 (Bureau of Labor Statistics 2015). Alternatively, high school diplomas average $678 weekly and less than a high school diploma is at $493 (Bureau of Labor Statistics 2015). Thus, through increased potential for earnings improving quality of life as “research suggests that in general, there is a positive relationship between income and subjective well-being or happiness (Tang 2006). With the relation between higher education and income, it seems clear that there must also be relationship between higher education and hireability. Before income can truly be impacted by higher education, one must be hired. In “Impression of the resume: The effects of application education, experience and impression management”, Stephen B. Knouse explores the relationship between relevant and irrelevant education and perceptions of hireability (1994). Knouse gave business persons’ hypothetical variations of resumes
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