It's clear that a college education pays dividends in the long term, historically speaking, but something new has been afoot since the '80s: the cost of college has tripled.
Meanwhile, more and more students are saddled with huge debts upon graduation. They optimistically take on those debts with promises from colleges that their lifetime earnings will more than compensate them.
You know, when evaluating business schools, it's quite common for graduates to look at the return on investment (ROI) of two years of education expenses, based on average starting and lifetime salaries of graduates of a particular business school. Indeed thinking in terms of money and payoffs jibes with a business education. Yet we need more of that in other academic disciplines, including the Humanities. Because undergrad students are spending about the same amount of money on tuition and getting drastically different ROI. They deserve to know what they're in for, no sugar-coating it.
By NPR Staff
June 18, 2011 | All Things Considered
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