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Wallace Hendricks
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While it was once reasonable to lump all college graduates together to compare them to high school graduates, this is no longer true. The return to different college majors and to different institutions varies widely. Parents know this when they are preparing their children for application to colleges. Last year, for example, a large percentage of the college degrees for people with education majors came from on-line institutions such as Phoenix University. Many colleges now provide little more than material that should have been learned in high school. This problem mimics the problem of huge differences in the quality of education at the high school level. Until we get a handle on measuring returns other than by years of schooling or graduation, these discussions will have very little importance.
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Mar 4, 2013