Why a College Degree Still has Value
Jim Liebelt Jim Liebelt's Blog
- 2011 May 05
In recent years, it has become more fashionable than ever to equate higher education with homeownership: once a rock-solid piece of the American Dream, now a fool's bet and a sad reminder of overinflated expectations.
But in reality, demand for an American-style college education, and the long-term value of said degree, is unlikely to decline any time soon. Here's why:
1. College degrees are still relatively scarce in the U.S. Less than 30 percent of the population have BAs, and we're 12th in the world in the rate of young workers that have associate's degrees or more.
2. Global demand for education keeps growing--it's on track to double over the next 10 years, to over 225 million students worldwide. According to UNESCO, India would have to build a new campus every two weeks between now and 2025 just to meet the demand. And the U.S. model is still the most desirable internationally.
3. A college degree, unlike a home, is nontransferable. It can't be flipped. Nor can it be foreclosed on.
Related: Some degrees have more value than others. The Daily Beast provides a gallery of the "20 Most Useless Degrees".