Economics of a College Education
Questions to antonw@ix.netcom.com
 

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Horror Video Captures the-Student-Debt-Crisis
 

Low Demand for Bachelor's Degrees and High Supply Lead to Continued Low Salaries

 

 

 

 

 

 

 

These U.S. Colleges-and-Majors-
are-the-Biggest Waste of-Money Atlantic

Oversupply Pushed Wages Down

See Salary Data 1  2  from PayScale.com and Salary Payback Analysis from WSJ

Economist Thoughts on Education

P. Krugman: rising wage premium for higher education is over 

L.Thurow: little/no payoff from a little bit more education

C. Murray: encouraged more investing in our best and
     brightest
A. Greenspan: solving skills shortage with education reform
     will take years.

P. Drucker: stress what learners do well, schools don't do that

For more on economist opinions concerning college education visit Educating the Class of 2030 and  a one page summary
Please 

e-mail antonw@ix.netcom with comments and suggestions

Annual-Wage-by-Education-1970-2013
Source

Few High Wage Jobs Being Created

Only Half of First-Time College Students Graduate in 6 Years  "...just over half of them (54.1 percent) had graduated within six years. Another 16.1 percent were still enrolled in some sort of postsecondary program after six years, and 29.8 percent had dropped out altogether." from  nytimes.com/  by CATHERINE RAMPELL

Page 2 Individual Majors and Income
See
Occupations and Job Growth
Colleges with the worst return on Investment 5/4/13
Effects of graduating college during recession 2010
Educating the Class of 2030

Determinates of Demand-College Education

In a Flat World our best and brightest students are in a competitive struggle with the best and brightest from around the world. Their wealth creating ideas will quickly spread around the world
.

More Intelligent Computers
mean the education level of workers replaced will increase.
.

Robots mean less Workers.
Whether it's portable flexible cheap robots in manufacturing
or robots cleaning offices and homes or 3-D printers creating everywhere, required hours
per task will dramatically drop.

 

 

from brookings.edu

Major matters - The lifetime earnings of an education or arts major working in the service sector are actually lower than the average lifetime earnings of a high school graduate.

 

Editors Note: Those who determine spending on education have decided that all students are created equal but remember that "some students were created more
equal than others. People with the personal characteristics it takes to complete
college are substantially above average and would make more than average even without college.
Ask Bill Gates or my talented buddy Alton who never finished but did very well.

Bachelors Degree Only Earnings Are Down 15%
as Costs Are Way Up

So Delinquency Rates Skyrocket

businessinsider.com

It's Not Getting Better

 

Average Student Loan Debt
Bachelor's Degree Jobs

Source 6/14


Educating the Class 2030
 

 

Public Colleges Certificates Aren't-a-Better Bet Than For Profits Programs

 

Many Do Not Finish Though
Profits Have Incentive to Keep Students In Class

ge2

Only the Top Public Students Make a Return on Investment

The earnings gap doesn't tell the whole story.

hamilton project graph copy http://www.businessinsider.com/it-turns-out-the-smartest-people-do-run-the-us-2014-4?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_term=Business%20Insider%20Select&utm_campaign=BI%20Select%20%28Tuesday%20Thursday%29%202014-05-01&utm_content=emailshare

 

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