Why that college degree collecting dust in your parent’s attic is worth even less now

stressed student

All those hours of studying yourself into an oblivion instead of having friends was totally worth it!

The unemployment rate for college graduates may not have risen as much as for less educated workers, but it’s still increased significantly — more than doubling, to 4.8 percent, over the last three years. [NYT]

About these ads

Breaking: a college degree isn’t really worth that much

college degree money

Something tells me it's going to take more than this little piggy to pay 4 years of tuition.

The WSJ reports:

Most researchers agree that college graduates, even in rough economies, generally fare better than individuals with only high-school diplomas. But just how much better is where the math gets fuzzy.

The problem stems from the common source of the estimates, a 2002 Census Bureau report titled “The Big Payoff.” The report said the average high-school graduate earns $25,900 a year, and the average college graduate earns $45,400, based on 1999 data. The difference between the two figures is $19,500; multiply it by 40 years, as the Census Bureau did, and the result is $780,000. Continue reading