Taking Some of the Guesswork Out of the Value-of-College Question
By Jeff Selingo
The lifetime wage premium that accompanies a college degree has long been the best selling point for colleges trying to attract students. The marketing pitch went something like this: Don’t worry how much you spend on our degree, we all know that getting a college credential is worth it.
Of course, not all colleges or majors are created equal. And it’s nearly impossible for consumers to get any information about how much a graduate in a specific major from a particular university earns. That’s probably one of the best measures of the return on investment in higher education, but, as with so many other tools that would allow consumers to make bottom-line comparisons, colleges are loath to share such information. In the absence of data, it’s easier for colleges to sell the dream of higher education at any cost.