What’s The Value Of A College Education

What’s more expensive than going to college? Not going to college.

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.

It is also a reality that the value of a college education is rising as manual and low-skill jobs are either being automated or lost to cheaper overseas labor.

We are now in a knowledge economy. Most careers involve interaction with computers, and learning on the job. Even if your child is not college material, some kind of community college or other tertiary education should not be given up lightly. Literacy, numeracy and the ability to be a quick study, the traits of a lifelong learner, are career-ready requirements in almost all walks of life.

Don’t Give Up On A Tertiary Education 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!