College: Profitable or Not?
A new report from MSN Money made us stop and think this morning: “The 50 Top Ranked Colleges that Pay off the Least.” Talk about a downer. The report dug into public data to compare the average wages earned by grads ten years into their careers, and the average annual tuition. The unfortunate winner? Bennington College. Their average annual tuition is a whopping $64,019. And their grads’ median income after a decade? $26,000.
The report brings up a question that’s been in the national conversation for a while now. Is college worth it? With tuition increasing faster than inflation (or paychecks). And yet, many other stats show that a college degree is essential to maximizing lifetime earnings. Consider this chart from the US Department of Education:
Needless to say, it’s complicated. We recently devoted an entire episode to the subject. College Bound digs into the many of post-high school paths in search of answers. From trade schools to entrepreneurship and everything in between. So what do you think, Biz Kid? Is college worth it?