Scott Feller, professor and president at Wabash College, has a good op-ed in the Lafayette Journal & Courier entitled “Look beyond headlines: college does matter.” As an initial matter, we’re damaged by the “if it bleeds, it leads” aspect of a lot of media coverage. He doesn’t put it quite that way, but media outlets tend to be focused on the edge cases. In the context of higher education, that means the most expensive colleges and the highest debt loads. The cost of a bachelor’s degree at a state college is going to be different than the cost of a graduate degree going through private colleges.
The perception that college doesn’t pay off in the labor market is damaging in multiple ways. The number of Indiana high school graduates going on to college has declined from 65% to 53% in the last 10 years. High school graduates without a college degree are estimated to incur a million-dollar loss in lifetime earnings. As Ball State economist Michael Hicks has researched, it also puts the state’s economic future at risk given that the majority of new jobs being created are going to college graduates.
And that’s just looking at the vocational aspects of college. Education adds value to life and to society in other, non-vocational ways as well. That drop from 65% to 53% is going to make a dent on the State’s future prospects.
The high school degree is becoming just a piece of paper. My job takes me to many warehouses where you don’t need a high school degree to work there. As technology advances all these jobs will slowly fade away.
As for vocational jobs there is not enough will to accommodate the number of students that want to learn a trade at the career centers.
A college degree is the best way to get ahead in our society.