Is college still worth it?

Harry talks to Bill Emmons, lead author of a new study suggesting that the wealth premium from going to college is declining. College graduates are still making as much money, and as much more money, than their non-college graduate peers; but they no longer have as great a premium in overall wealth. Emmons and Harry discuss the possible explanations for this phenomenon, including liberalization of credit, sharply rising costs of college, and the blind luck of date of birth. Emmons ends by concluding that college is still worth it, but not for all, and not as dramatically as it used to be.
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Пікірлер: 68

  • @pcalger1163
    @pcalger11635 ай бұрын

    College is not a job training scheme. College is a place to learn thinking skills, expand your experiential base, increase critical thinking skills. Skills necessary for better citizenship

  • @carneades4409

    @carneades4409

    5 ай бұрын

    shocked but pleased to find someone in the comments saying this at the same time it is important for people thinking of going to college to consider the economic costs and benefits as part of the picture

  • @timd4524

    @timd4524

    5 ай бұрын

    Better citizenship starts at an early stage.

  • @MatteBlack2024

    @MatteBlack2024

    5 ай бұрын

    And… a better life!

  • @XenobiaF

    @XenobiaF

    5 ай бұрын

    The better educated the population is, the better off the country is in so many ways.

  • @haroldbridges515

    @haroldbridges515

    5 ай бұрын

    dream on

  • @arlenestanton9955
    @arlenestanton99555 ай бұрын

    Stronger unions also help non- college, gain wealth.

  • @DrNancyLivingCoCreatively

    @DrNancyLivingCoCreatively

    5 ай бұрын

    I'm an educator and have often suggested Union jobs w good mentors instead of college. I had a girlfriend who did really well and had a great retirement. I'm a learning junkie. I have two doctorates forgiven under Obama. College has gotten far too expensive. .

  • @brandonatkins-eg1ig
    @brandonatkins-eg1ig5 ай бұрын

    The opportunities for degree holders far outweigh those with no degree, regardless of income. Quality of life, career flexibility and upward mobility are important metrics too.

  • @sabinemagpie
    @sabinemagpie5 ай бұрын

    Education is important, not necessarily college.

  • @XenobiaF

    @XenobiaF

    5 ай бұрын

    There are many ways to continue your education that don’t require college-trade schools and apprenticeships are just two examples.

  • @sabinemagpie

    @sabinemagpie

    5 ай бұрын

    @@XenobiaF exactly

  • @rettif9
    @rettif95 ай бұрын

    The cost of college tuition is growing much faster than the cpi. To fix this problem requires cost control, not taxpayer funded free education. A simple solution would be any public university that increases tuition above the cpi is ineligible for student loans. Force universities to live with a budget like everyone else.

  • @-Gramps

    @-Gramps

    5 ай бұрын

    As a former state university professor, I agree with you 100%. The additional fees are supporting administrators that have absolutely nothing to do with educating the students!

  • @user-wn6cw7bk3i
    @user-wn6cw7bk3i5 ай бұрын

    Is knowledge and critical thinking still worth it? Expanding your horizons? Yes! Definitely!!!

  • @cbufffly

    @cbufffly

    5 ай бұрын

    Agree, but not in the current curricula most colleges pursue. I think HS - 4 yrs; Comm College - 2 yrs; Univ/Coll 2 yrs . GRAD schools if desired. College tuition for the first two years in a 4-yr degree program is a joke. Required classes cover topics that should've been covered in HS. and they're often taught by upper classmen who haven't secured their first university degree. If a reorg is needed, all HS students should be prepped for further education. Higher education in the UK is a good place to start. Higher education here is a setup for failure saddled with a huge loan that is not conducive to funding payback when the payer is trying to establish a career, grow a family, or travel or any of the other passions in life promised by institutions of higher learning.

  • @wanderlustworldschooling543
    @wanderlustworldschooling5435 ай бұрын

    Interesting addition to the overall discussion in regards to student loan forgiveness.

  • @instred
    @instred5 ай бұрын

    I have two daughters in College now and I'm very grateful that both of them took AP classes in HS that has prepared them for College course-work. Both passed a good number of the AP exams that has really helped out with the cost. You youngsters out there put down the XBox and Playstation and hit the books and take as many AP classes as you can. Even if you don't pass the tests you will be well prepared for future learning.

  • @Trix162

    @Trix162

    5 ай бұрын

    feel like you should ask your daughters to explain this video to you.

  • @SMF314
    @SMF3145 ай бұрын

    Hi Harry!😊

  • @daveh6856
    @daveh68565 ай бұрын

    I don't understand why the cost of a college education has gone up when many courses can be taught mainly online. Many courses can be recorded and simply played over and over again for anyone paying to take the course. Sure, they would need to be updated over time but how much does a basic history, math, or science course actually change over time?

  • @njanderson4342
    @njanderson43425 ай бұрын

    The half-life of a college education has shortened drastically. Things change so fast now that a segment of what you learn is outdated in five years. I worked my way through college. I couldn’t afford that now.

  • @LiteraryCurtastrophe
    @LiteraryCurtastrophe5 ай бұрын

    I love hearing how screwed my generation and I are all the time while being unable to afford my own home, barely affording rent, my special diet because of health issues costing so much, and wondering about my job stability. It's great. If someone had told me 10-15 years ago I'd make almost $30 an hour and still struggle to get by, I would have slapped them for being a liar (I wouldn't actually hit anyone for that, I'd probably have laughed at them though)

  • @catherinec2967
    @catherinec29675 ай бұрын

    I work with youngsters and I really talk up post high school education. This can mean anything from pursuing a PhD at an Ivy League to getting a two year certificate at the local community college. Not everyone will benefit from a postgraduate Cadillac education, but most will benefit when they pursue education beyond high school.

  • @haroldbridges515
    @haroldbridges5155 ай бұрын

    Excellent discussion, even if not entirely surprising.

  • @squeaky_buddha
    @squeaky_buddha5 ай бұрын

    The average college textbook costs an estimated $105.37. The textbook publishing industry is valued at $2.58 billion. Hmmm...

  • @timd4524
    @timd45245 ай бұрын

    Depends what you're going for. I know plenty of people who went to a trade school ( we have excellent ones around here ), and the majority of them either own their own business, or work for very prominent businesses like Otis Elevator or General Electrics Electric Boat company. All jobs that pay extremely well. Unfortunately the one thing you can't get in college is common sense.

  • @haroldbridges515

    @haroldbridges515

    5 ай бұрын

    The 18-year olds are victimised by the marketing of the colleges. I went through college prep classes in high school and on to an Ivy League college without any teacher or guidance counselor ever mentioning how paying back college loans would affect your life and standard of living.

  • @mikeshaunnessey9303
    @mikeshaunnessey93035 ай бұрын

    The answers is NO, not in the last 40 years has paying for a college degree resulted in incomes greater than if you had been a plumber out of high school. Unless you got a tech degree. Then you had a chance to get to a salary that covered the cost of tuition. Otherwise you're screwed, selling cheese burgers for $10 an hour with a mountain of debt.

  • @mikeshaunnessey9303
    @mikeshaunnessey93035 ай бұрын

    Maybe the distribution of wealth in the country is way out of wack?

  • @dbrown2746
    @dbrown27465 ай бұрын

    If you want to get a JD, gotta get an undergraduate degree first. But as a successful hs dropout, can't say I'm sorry to not owe for loans.

  • @natoflores8723
    @natoflores87235 ай бұрын

    College doesn't make you smarter but gives you entry into jobs that you otherwise wouldn't be able access Access to desirable jobs means more income. This is especially true for technical degrees such as engineering and business related education. I'm an engineer and have had an excellent work and compensation experience. My son obtained an MBA became an investment banker and make 3 times the salary that I made At the time that I attended school a full 4 years of engineering school cost $4,400. For my son it was $55,000 for both his undergraduate and the same for his MBA I try to tell my son to live like he makes 1/2 the money he makes. He hasn't quite made the change but I'll keep trying. I was able to pay for his education and that is the result of my having an engineering degree. University also teaches obedience critical thinking skills

  • @rosemarynewman1876

    @rosemarynewman1876

    5 ай бұрын

    College does make you smarter.

  • @JC-cu3sr
    @JC-cu3sr5 ай бұрын

    Short term gratification vs. long term gratification

  • @SusanZackrisen
    @SusanZackrisen5 ай бұрын

    Gen X were totally screwed by this policy. Has actually been a disadvantage to have a college degree.

  • @user-op1yy5br4o
    @user-op1yy5br4o5 ай бұрын

    Makes sense why young couples postpone having children they need to get out college debt.

  • @mathsinger
    @mathsinger5 ай бұрын

    I used to tell all young people they should go to college. Now i trek then that if their passion requires cllege, go for it. Otherwise consider some kind of technical traning. Not all people want college and there are a lot of jobs that need to be done require a college education.

  • @user-rj3oq4cq6b
    @user-rj3oq4cq6b5 ай бұрын

    Mine wasn't and I graduated in1979. Only one two semester course was worth more than what I could have learned on my own by simple reading, or with the training I had already gotten before entering. And that prof was respected but disliked by most of the others in the department. Unless one plans to take a degree in the sciences, I don't think it is worth the money. At least my crap degree was from a state school when fees were still very reasonable.

  • @mikeshaunnessey9303
    @mikeshaunnessey93035 ай бұрын

    Yes, for an ever shrinking number of people.

  • @lockedonlaw
    @lockedonlaw5 ай бұрын

    Honestly, as someone with multiple postdoctoral degrees, college has become a place where marketplace exchange of ideas is impossible. There are too many things you are not allowed to say because your ideas might be "offensive" ... whatever that means.

  • @davidwilkie9551

    @davidwilkie9551

    5 ай бұрын

    It probably means that in a place of learning, monetary barriers are an offense to the intended purpose, an insult to intelligence as they used to say. Obviously.

  • @mikeshaunnessey9303
    @mikeshaunnessey93035 ай бұрын

    Like even medical degrees can't cover their tuition within 10 years. Bad investment.

  • @lairddougal3833
    @lairddougal38335 ай бұрын

    Let’s make a distinction between vocational institutions and academia. Serious people do.

  • @Chibby-Chubby
    @Chibby-Chubby5 ай бұрын

    To young people Today: The Value of College has decrease + The Cost of College Has Increased + an increase in Student loans debts = Why go to college?

  • @edajungck
    @edajungck5 ай бұрын

    I met some of the worst bigots in college. Maybe because it was an American college, but I doubt it. Thanks for just the facts.

  • @hemlock40

    @hemlock40

    5 ай бұрын

    It may have been that particular college.

  • @hemlock40
    @hemlock405 ай бұрын

    College degrees nowadays are more bought than earned. I'm gen x--many of my generation have found that the value of undergrad and grad degrees are dubious. Poor basic reading and writing skills, misspellings, improper grammar, ignorance of their own major...what did you really do in college and how the heck did you graduate? We wonder. Also, there is a huge disparity between academia and industry.

  • @edwardtaylor4785
    @edwardtaylor47854 ай бұрын

    Some college education is very beneficial especially when you have a degree in something that is valued by employers. Getting out of school with a major in alternative dance theory and a minor in hip-hop and a $400,000 student loan debt is not a good career path. Tuitions have risen far faster than inflation in large part due to government backed student loans where the educational institutions have free rein to charge whatever they want to charge and the gov't loan will pay them and the student is left with the debt. Large debt burdens right out of the educational gate really crimps one's life"arc".

  • @mikeshaunnessey9303
    @mikeshaunnessey93035 ай бұрын

    Does a rookie lawyer make enough money to cover the cost of tuition within 10 years?

  • @enr3334
    @enr33345 ай бұрын

    College and education in general has failed! No practical skills! No handshakes w employers! We teach like we are in the Industrial Revolution! Teach like all of us are cogs in a machine! How many college graduates remember and internalize education?

  • @Kaëlanii
    @Kaëlanii5 ай бұрын

    I CAN'T Believe its NOT butta!!! Pass the Polaner all fruit!!! I con't believe it's not butta!!! Can you please pass the Jelly?

  • @mikeshaunnessey9303
    @mikeshaunnessey93035 ай бұрын

    No, everybody has declined.

  • @mikeshaunnessey9303
    @mikeshaunnessey93035 ай бұрын

    And if you bought a house in 1980 you paid 9% for your mortgage.

  • @rosemarynewman1876

    @rosemarynewman1876

    5 ай бұрын

    We bought a house in 1985 and had a 12% mortgage.

  • @Matlacha_Painter
    @Matlacha_Painter5 ай бұрын

    College serves the purpose of safe recreation and socialization among those of your own socioeconomic class and the making of life long friendships and business connections that allow the ruling class to maintain their identity, status and wealth within their own. And then join the family business.

  • @cgpcgp3239
    @cgpcgp32395 ай бұрын

    I read 1 on 1 with billemmons. And thought is this a new class of billionaires? 🤔

  • @joansmith2169
    @joansmith21695 ай бұрын

    A lot of data here, Harry. But not a lot of understanding. I don't think this study was worthy of your time. Or mine. College graduates still make more money than others. The assumption in this conversation seem to be that people were powerless not to buy a college education that was more expensive than they can afford, or a car more expensive than they could afford, or a house, or cable service and so on down the line. If you are making good money and live within your means, then you can build a savings account over time, regardless of the vicissitudes of inflation and the like. I found your conversation shallow on this score. And what about the political question. Much has been made about a substantial part of Trump's basiest base being non-colleged educated. Based on what I have seen up close, they don't know how to evaluate evidence in ways that could help protect them from fraud. That makes them rather easily gaslighted. Sure, there's more to it than is single point, but here's another place where your conversation was lacking. Even if there are just a few shreds of truth in what I am saying here, then it is helping the far right make inroads toward an authoritarian form of government. Put that in your economic model! This is probably the only time I'm going to hit a thumbs down on one of your videos. Overall, I find your contributions enlightening and valuable in the extreme. Thank you for all your work.

  • @juanepaso5709
    @juanepaso57095 ай бұрын

    😂 collage is a drunken party followed by classes that have little to do with life after class...

  • @Cookie-op2pq

    @Cookie-op2pq

    5 ай бұрын

    collage and college are different things

  • @juanepaso5709

    @juanepaso5709

    5 ай бұрын

    So i have a 6 grade reading level. Little did I know. Pretty cool. Thanks to President Trump, that 6 grade reading level is now a presidential reading level. 📚 🎉🎉🎉🎉🎉 😢 sad but true.

  • @juanepaso5709

    @juanepaso5709

    5 ай бұрын

    @Cookie-op2pq Cookie-op2pq that's spelling for a pornsar? Partying with pornsar's is now considered a presidential act. 🤔 so you're in luck as well. Cheers!

  • @PacesIII
    @PacesIII5 ай бұрын

    One of the biggest problems with the economy is the extent to which administration is used within pretty much any organization. Administration adds little to no value to any organization, particularly an organization which needs to produce a product. Even worse, is the advent of administration in government, such as the department of education for example many of the people who have nothing jobs with master's degrees in the department of education producing absolutely nothing except shuffling around statistics or being internal PR campaigns for politics, tend to make six figures a year. This is a ridiculous amount of money for a ridiculously small amount of actual work that's being done per person. So basically, many of these organizations and businesses are extremely top-heavy when they should be bottom-heavy.

  • @mikeshaunnessey9303
    @mikeshaunnessey93035 ай бұрын

    WDF are you saying? The newer generations are stupid?

  • @angeline12345
    @angeline123455 ай бұрын

    YES TO EDUCATE ✊🫡👏🏻👏🏻👏🏻👏🏻❤️

  • @Elizabeth-yg2mg

    @Elizabeth-yg2mg

    5 ай бұрын

    Agreed--it just shouldn't cost so much.