A fascinating article on the value of college in The Atlantic, highlights the cost of the so-called NEETs — 15-24 year olds Not Engaged in Education or Training. There are serious social costs involved in supporting these youths who are not investing in a better future for themselves — estimated to cost $37,450, when you factored in lost earnings, public health spending, and other factors.
Are you lamenting the fact that your high school senior is heading off to college…without any scholarships? Have you considered that NOT going to college might actually end up being more expensive in the long run? Here’s why: One study found that, over a lifetime, $100,000 spent on college yields a higher return than the same amount invested in corporate bonds or hot company stocks. Another study revealed that a good teacher can improve a student’s future lifetime earnings by $400,000. Yet another study shows that college grads earn a whopping 80% more than folks who didn’t finish high school.
Don’t Give Up On College For Your Child
The bottom line? If your child is struggling in school and you’re not sure college is in his or her future, know that the long term earning stakes are high. A brain training program to boost cognitive skills can make learning easier and may put college—and higher earnings for life—back into the equation!