May 17, 2013
The New York Times recently published an article about the job prospects of college graduates in these difficult economic times. While there are still many issues facing economic recovery, the results of the article substantiate the importance of a college degree:
So, despite the painful upfront cost, the return on investment on a college degree remains high. An analysis from the Hamilton Project at the Brookings Institution in Washington estimated that the benefits of a four-year college degree were equivalent to an investment that returns 15.2 percent a year, even after factoring in the earnings students forgo while in school.
“This is more than double the average return to stock market investments since 1950,” the report said, “and more than five times the returns to corporate bonds, gold, long-term government bonds, or homeownership.”