Tuesday, May 27, 2014

A College Education is Still a Good Investment

The end of the month is near, and soon I will be making my now-ritual three payments for the debt my wife and I accumulated for our undergraduate and graduate educations.  Though these payments are a burden and have been for the many, many years we have been paying them (and will be for many more years in the future), I have never once regretted the decision to go into debt to finance my education.  I am firm in the belief that it was an exceptional investment both economically and personally.

Which is why I worry a bit about all of the focus on the rising debt that college students are accumulating.  The basic takeaway there is the effects of states dramatically reducing their support for public higher education.  This is something that, as a society, we should be concerned about, but not something that suggests college is no longer worth it.  A college education it is still a good investment even at the much higher tuition rates state universities are charging.

So I was pleased that the exceptional new New York Times blog The Upshot, which is led by the exceptional David Leonhardt (three cheers for getting him back on the economics beat) posted this graph today along with a great write up.  Yes, college is not only still with it, but ever more so as time goes by.

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