The value of college education and economic opportunities it gives us
In some cases, this means investing in earlier levels of education to prepare students for post-secondary opportunities, and in other cases, this means increasing public funding that will allow for quality teaching staff, financial aid and the implementation of student support systems that will boost retention and graduation rates.
Philanthropic efforts have the power to fill in gaps left by market failures and funnel support toward issue areas overlooked by public funding.
After the war, college enrollment surged, due in large part to the GI Bill. The cost of college has risen by a factor of 14 sincewhile the consumer price index merely quadrupled over the same period.
Offering professional development opportunities to employees also allows companies to identify potential leaders for the future. And for workers without a high school diploma, the unemployment rate still stands at 6 percent—meaning they fare worse in the job market today than college graduates did during the recession.
But credentials are also clearly important, as this illustration shows: Chart courtesy of Education Pays On average, earnings increase for every degree someone gets, and the jumps are particularly large when people get graduate degrees.
Benefits of a college education
There are no guarantees, but if you have a college degree you will be less likely to suffer long-term unemployment. While student perceptions may be in flux, our communities can see the undeniable benefit of college graduates — and the unquestionable power held within the institutions that cultivate them. Highly-skilled staff requires less supervision, are more productive, and add greater value. A crowning example of this concept is the relationship between Stanford University and Silicon Valley. Offering employability skills training helps universities attract diligent, forward-thinking students. What's left are more complex tasks that require people to solve problems and work together, according to Tony Carnevale, director of the Georgetown University Center on Education and the Workforce. More than 1 million foreign students studied in the US last year, making up 5. For international students, an American college education is worth the trip. Knowledge creation has been identified by economists as a key driver of economic growth. Due to falling post-graduate employment numbers and rising cost of tuition, many people are beginning to rethink the value of certain majors and degree programs. Subscribe at Apple Podcasts. Many policymakers acknowledge the vast benefits colleges, universities and their graduates pose for their cities and states, and have intensified their goals for educational attainment for their constituents. This reality implies that more must be done on a public level to measure and advertise the value-add of institutions in order to benefit students, their families and even policymakers. A few of the institutions topping the high value-add list are big names like MIT and Cal Tech, but the majority of institutions noted for their economic returns are less likely to be known on a national scale.
Its confluence with business provides commercial value to innovation, while academic instruction and skills training help individuals and organizations to have the tools to succeed in a knowledge-based economy. As the need for certain in-demand jobs rises, wages would be expected to follow—and young people likely will work to cultivate the skills needed for the most lucrative careers.
Costs and Benefits Higher education has undoubtedly grown more expensive over the past 40 years, with tuition hikes vastly outpacing the rate of inflation. The percentage of Americans who have college degrees has been rising.
Benefits of college education essay
In today's economy, employment options are shrinking for people who only have a high school diploma. Knowledge creation has been identified by economists as a key driver of economic growth. There are no guarantees, but if you have a college degree you will be less likely to suffer long-term unemployment. In fact, an educated staff is so important to some companies that they will even pay for employees' tuition. The reality is, not all degrees are equal. Critics suggest the educational system is not preparing graduates for these in-demand jobs, but the real challenge is the retirement of the outsized baby-boom generation. Paul, said she believes higher education connects students to vital resources, financial opportunities and social capital, and as a result, warrants government support. Value in "Some College" One of the interesting questions about people who go to college but never finish degrees is what, if any, advantages they get from the time they do spend in school. This collaborative space has produced many of the most exciting technological innovations of recent times and provides an excellent precedent for alliances elsewhere. Those with a postgraduate or professional degree are more likely to say that their college education was very useful in each of these respects compared with four-year degree holders, who are in turn more likely than those with a two-year associate degree to say that their education was very useful across each of these measures. That combination of benefits is why so many people make the investment of time and money to go to college. But even by , most people were not going to college. Instead, a recent Brookings report suggests that the type and quality of a few key factors determines the economic value-add for alumni. Families of college graduates are generally better off economically and socially.
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