Is a College Education Still Worth the Price?
Millions of US students are about to enter one of the weirdest times ever for higher education.?
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Last week, the US Supreme Court barred universities from using race as a factor in admissions and threw out President Joe Biden’s student debt relief plan — a one-two punch that has the potential to reshape colleges across the country.?
It comes at a time when Americans are already questioning whether the benefits of college are worth the price. It cost just $10,000 a year on average to attend a public four-year school in 1970 when adjusted for inflation. That figure in the 2022-23 academic year was $20,500, with Ivy League schools now pushing $90,000.
The high price tag has led to decreased college enrollment as young people increasingly fear the burden of student loans. And even when colleges do offer financial aid, it’s often unclear how much or under what conditions.?
Student loans are financially crippling for a huge number of Americans, and with required payments returning at the end of the summer, many households are going to struggle to make ends meet.?
Not helping matters: Wage growth hasn’t kept up with the pace of inflation, and weakness in the economy has workers worried about job security, especially as advances in artificial intelligence threaten to replace human workers.?
If you or your kids or other family members are currently navigating the complicated world of higher education, it can be a lot to figure out. We asked a few financial experts for their best tips. Read what they said in the full edition of the Bloomberg Wealth weekly newsletter.
Share Your Thoughts
Readers: Do you think a college education is still worth the cost? Tell us in the comments below.
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Retail Business Owner of Sports Car丨MS丨NASP
1 年I think going to college is like a value investment in a startup, it may pay off handsomely, but it still depends on how you run yourself after college
Project Finance Readiness Consulting for Prime Projects | $100M to $5B+ | Multi-Use Real Estate, Oil and Gas, Infrastructure, and More
1 年Those going into technical schools are likely to fare much better.
Everyday is a gift. What are you gifting your day to?
1 年It all depends on what College means to you. If you go to College just for the sole purpose of getting a job then in the current US economy where fast food restaurants are paying upto $17 per hour, then going to college may be a challenge. College does not get you a job. You get you a job. College prepares you to deal with these four major factors of life. 1. Dealing with people. 2. Managing your time 3. Dealing with your habits 4. Handling money. Is the price tag on this worth it? YES! YES! and YES!
Sales Associate at American Airlines
1 年Thanks for posting