For a long time no one ever challenged the value of education. They all of a sudden there were a lot of critics shouting about the draw backs of the cost of education and the debt students are left with and even declaring that its not worth going to college. Now the trend is reversing again – or seems to be starting to at least.
Derek Thompson of The Atlantic has this recent article highlighting the value of education. He backs it up with some great data from multiple sources. This is not the first time he has defended education. He wrote about it last year too using pretty much the same supporting data.
Is an investment in college worth it? As MBA tutors, we often get this question at parties and for that matter in any sort of gathering. A highlight if you ever thought college is not worth it:
A study from the Hamilton Project found that $100,000 spent on college at age 18 would yield a higher lifetime return than an equal investment in corporate bonds, U.S. government debt, or hot company stocks.
Here is another interesting quote.
A 2009 McKinsey report estimated that if we raised our education performance to the level of Korea, we could improve the US economy by more than $2 trillion.
Read the full article highlighting the value of education. It is worth it.