The Value of a College Degree
The escalating costs of higher education cause many to question the value of continuing education after high school. Many wonder if the expensive education, opportunity to choose college over full-time job, and the accumulation of thousands of dollars in long-term debt, be a good investment. The risk is particularly high in low-income families, it is difficult to make ends meet without the additional burden of tuition fees and expenses. In order to determine whether higher education is a good investment, it is necessary to examine what is known about the value of higher education and the rate of return on investment as well as the individual and society.
THE ECONOMIC VALUE OF HIGHER EDUCATION
There is much to support the idea that the return on investment in higher education is large enough to ensure economic burdens associated with the university to pursue. Although the result of the difference between university graduates and high varies over time, graduates on average earn more than high school graduates. According to the Census Bureau, during the working life of an adult graduates earn an average of $ 1.2 million, the company completed an associate to earn about $ 1,600,000, and hold a bachelors earn about $ 2,100,000 (Day and Newburger, 2002).
These large differences in the results of life expectancy, the cost of university education in a more realistic perspective. Most students today - about 80 percent of all students - enrollment in public universities or 4-year public colleges in two years. According to the U.S. Department of Education report, Think College Early, a full-time student of public college for four years, paying an average of $ 8,655 for state education, with full board (U.S. Dept. of Education, 2002). full-time students in public two-year college pays an average of $ 1,359 entry fee per year (U.S. Dept. of Education, 2002). These statistics to argue that even if the cost of higher education is significant because the result of the difference between those who earn a bachelors degree and are not the returns of individual investment in higher education is high enough to justify the costs .
OTHER BENEFITS OF HIGHER EDUCATION
College graduates also enjoy benefits beyond increased income. A 1998 report published by the Institute for Higher Education Policy reviews the individual benefits that college graduates enjoy, including increased saving, increased personal / professional mobility, improved quality of life in their offspring, better consumer decision-making and more leisure and recreational activities (Institute for Higher Education Policy, 1998). According to a report published by the Carnegie Foundation, individual non-financial benefits of higher education include the tendency for postsecondary students to become more open, more cultured, more rational, more consistent and less authoritarian, these benefits have also agreed to generations later (Rowley and Hurtado, 2002). Additionally, college attendance has been shown to "decrease prejudice, enhance knowledge of world affairs and enhance social status" while increasing economic and job security for those who earn bachelor's degrees (Ibid.)
Research has also consistently shown a positive correlation between completion of higher education and good health, not only for oneself, but also for one's children. In fact, "parental schooling levels (after controlling for differences in earnings) are positively correlated with the health status of their children" and "increased schooling (and higher relative income) are correlated with lower mortality rates for given age brackets" (Cohn and Geske, 1992).
THE SOCIAL VALUE OF HIGHER EDUCA5ION
A number of studies have shown a high correlation between higher education and cultural and family values, and economic growth. According to Elchanan Cohn and Terry Geske (1992), there is the tendency for more highly educated women to spend more time with their children; these women tend to use this time to better prepare their children for the future. Cohn and Geske (1992) report that "college graduates appear to have a more optimistic view of their past and future personal progress."
Public benefits of attending college include increased tax revenues, greater workplace productivity, increased consumption, increased workforce flexibility, and decreased reliance on government financial support (Institute for Higher Education Policy, 1998).
COLLEGE ATTENDANCE VERSUS COLLEGE COMPLETION
In their report? College for all Is there too much emphasis on university education in 4 years? Boesel and Peace Country estimated that around 600,000 students leave 4-year colleges without graduate each year. These non completers earn less than college graduates because they have fewer years of education. More surprisingly, they tend to earn less than the same amount as students age 2 who have little education. In addition, university students 2 years showed gains as well tested cognitive skills for each year of participation as university students in four years. College students from 4 years also pay more in tuition and are more likely to have student loan debts for students from 2 years (Boesel and Peace Country, 1999, p. viii). The authors conclude that high school graduates of modest ability or uncertain motivation-factors that increase their chances of leaving college before graduation-would be well-advised to consider attending 2-year, instead of 4-year, colleges. If they did, they would probably realize the same earnings and cognitive skill gains at lower cost and with less debt. In order to maximize the return on their time and monetary investment, students who do choose to enroll in 4-year colleges should do everything in their power to graduate. (Bessel and Freeland, 1999, p.ix).
Are distance learning institutions accredited differently than "brick and mortar"?
The answer is yes and no. The two accreditation bodies that are regional and national leaders of all certifications, including programs offered through distance learning, keep away from institutions to the same high standards as other colleges and universities. Meanwhile, the recognized standard used for specific brick and mortar institutions must be adapted to distance education to ensure they continue to promote quality education. For example, see one of CLS faculty support distance education, and if they have the resources, facilities and equipment needed to participate in effective teaching at a distance. More details on the new standards can be read in Chea Monograph Series 2002, Number 1, accreditation and quality assurance in distance education.