According to a paper published in the journal Science, while college is a significant investment, over the long run, college is “cheaper than free.” ... The study also states that college graduates, regardless of generation, earn more than those without a degree. What is your view regarding this?
I think there is no organic linkage between "degree" and "earning" of any person. The latter normally comes from the "money-minded" cunning techniques and influences.
It is true. There are several surveys that say that the higher the degree of education the higher the expectation of employment and higher salary. It does not mean that only academic education guarantees, but it creates more opportunities.
This question is more difficult to answer than it seems to be. For simplicity, assume that 1. more educated people are earning more than low educated people. 2. education is free. Therefore, education pays of, right? It is not that simple. Even if we ignore that education takes time, we still cannot conclude. The reason is that more educated people ARE DIFFERENT than low educated people, and EDUCATION IS USUALLY NOT THE ONLY DIFFERENCE. For example, more educated people are on average smarter, come from richer families, etc, and these factors contribute to higher income. Therefore, in order to answer whether education pays of, we must compare people that have different education, but are very similar in all other aspects. According to my knowledge, studies that do this find that return to education is actually fairly low.
Totally depends on quality and field of the education and the financing possibilities. I have heard this from youngsters that they would rather be making money rather than spending. But in my personal opinion, college education is worth the money, period.
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