A very in-depth analysis of whether or not a college education, generally speaking, is a financially prudent investment. Given exorbitant tuition costs, over-specialisation of degree programs, and the saturation of the labour market with college graduates, the ROI on a college education is declining rapidly compared to previous years.
A college education is still a valuable tool for increasing social mobility, especially amongst children born into households in the poorest fifth of the income distribution. Which is more reason to lower tuition fees.
"Perhaps the strongest argument for caring about higher education is that it can increase social mobility, regardless of whether the human-capital theory or the signalling theory is correct. A recent study by researchers at the Federal Reserve Bank of San Francisco showed that children who are born into households in the poorest fifth of the income distribution are six times as likely to reach the top fifth if they graduate from college. Providing access to college for more kids from deprived backgrounds helps nurture talents that might otherwise go to waste, and it’s the right thing to do."
College Calculus: What's the Real Value of Higher Education? | New Yorker http://