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The Value of College- its Not Just Correlation By David Leonhardtt (1).pptx

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The Value of College- its Not Just Correlation By David Leonhardtt (1).pptx

  1. 1. The Value of College: It’s Not Just Correlation By David Leonhardt “Comparing the earnings of college graduates and nongraduates is an imperfect way of measuring the value of a degree”
  2. 2. “The useful comparison is not between those who do and do not attend college but, rather, between equally intelligent students who do and do not choose to attend college.” “College brings a large return to the vast majority of students who attend it.” “College matters. It causes real, large increases in lifetime earnings, both for average students and those teetering between going and not going to college. And it has other benefits too.”
  3. 3. Research & Studies • Study 1- David Card of the University of California, Berkeley — compared young men who happened to live close to a college with young men who did not. – Geography- young men who lived close to campus attend college in greater numbers. • Study 2- paper, by Seth Zimmerman, examines students on the margin of attending a four-year college and not attending one. – found that the admitted students earned significantly more. • Study 3- examined twins and siblings. – those with more education earned more.
  4. 4. Median Weekly Earnings • Doctoral Degree- $1,883 • Professional Degree- $1,861 • Master’s degree- $1,497 • Bachelor’s degree- $1,248 • Associate’s Degree- $887 • Some College, no degree- $883 • High school diploma- $746 • Less than a high school diploma- $592
  5. 5. Unemployment rate • Doctoral Degree- 1.1% • Professional Degree- 1.6% • Master’s degree- 2% • Bachelor’s degree- 2.2% • Associate’s Degree- 2.7% • Some College, no degree- 3.3% • High school diploma- 3.7% • Less than a high school diploma- 5.4%
  6. 6. Problems… Economic issue: • “college will not pay off for everyone who graduates from one.” • …..” no investment brings a guaranteed return”…. • “people need to be careful about attending a college with a high dropout rate. Too many colleges fall into this category, and racking up debt without earning a degree is a terrible combination.”
  7. 7. The implications for businesses: Attending college has positive implications for businesses since these students are considered more competent, problem solvers, and dedicated. Also, they can bring better returns and profits to companies compared to those who do not attend college. In other words, students learn new skills that improve business performance and achieve better results for employees and the organization.
  8. 8. Conclusion • “research on the value of college comes to the same conclusion as the straightforward data comparing the pay of graduates and nongraduates. For the vast majority of people, college pays off. “ • “everyone with the resources to send children to college does so — including those who say they’re skeptical of its worth.” • “low-income parents say that one of their highest goals in life is to send their children to college.” • “the collective behavior of millions of people says as much about the value of education as any regression analysis.”

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