Those hardest hit during the recent Recession were Labor-based economies. With Big Dig jobs drying up and the Wall Street Catastrophe, Boston has felt the sting, unlike any other community. The days where sons would apprentice their union card-carrying fathers while carving out their own niche in the labor market went the way of the passenger pigeon.
AP Education writer, Justin Pope discussed two recent studies demonstrating that jobs for those with a post secondary education increased by over 2 million during the Recession. While those with a high school diploma witnessed a staggering loss of 6 million jobs.
However, the US economy grew at an annual percentage rate of 3.2 percent in the October-December quarter. This is good news, especially for those with a post-secondary education. Other news handed down today by the AP indicates that companies like Facebook and Google are major forces in wresting the economy from the doldrums of 2008.
The President’s State of the Union speech last week something occurred to me. Even though our president touted the benefits of higher education, an undercurrent of paranoia is brewing regarding the costs of tertiary education is taking on steam.
The National Center for Educational Statistics reports the average cost for a four year post-secondary education for both public and private institutions costs $128,104.00. Sticker shock of this magnitude sends most screaming for the hills.
A deeper look into the actual costs reveals a pervading fact. Those with a Bachelor’s degree can expect to earn about 74% more than those with a high school diploma. That is over $500K over the course of a lifetime on average.
Obtaining a college education is not like youth soccer. Not everyone gets a trophy for simply showing up. It is hard work. Workload and debt cause many from pursuing a college education. Hopefully, shedding light on these facts will quell the haters and convince those on the fence it is worth the risk.