Everywhere you look these days, you see articles questioning the value of a college education. Yes, college is incredibly expensive. Yes, the student debt burden is incredibly worrisome. I think higher education needs to change. There is no question in my mind. However, I do not agree with those who are questioning whether a college education is necessary. Here's some interesting new data published in the New York Times:
The pay gap between college graduates and everyone else reached a record high last year, according to the new data, which is based on an analysis of Labor Department statistics by the Economic Policy Institute in Washington. Americans with four-year college degrees made 98 percent more an hour on average in 2013 than people without a degree. That’s up from 89 percent five years earlier, 85 percent a decade earlier and 64 percent in the early 1980s.... And the unemployment rate in April for people between 25 and 34 years old with a bachelor’s degree was a mere 3 percent.