On The Market

191: The Million-Dollar Question: Is College Still Worth It in 2024? w/Dr. Anthony P. Carnevale

Feb 19, 2024

Dr. Anthony P. Carnevale discusses the true ROI of a college degree, the most profitable majors, reasons behind rising tuition costs, and the shocking statistics on the financial value of a degree. He highlights the consequences of not graduating, the benefits of obtaining a college degree, and the ongoing debate on the worth of attending college in today's economy.

35:24

Creator website

Episode guests

Anthony P. Carnevale

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Attending college can result in approximately $1 million in lifetime earnings, making it a wise investment despite rising costs.

Gender-based economic realities contribute to males opting out of college enrollment while females may need additional degrees to earn as much.

Deep dives

The Financial Benefit of College Education

Attending college and obtaining a four-year degree can result in approximately $1 million in lifetime earnings, according to Dr. Tony Carnavale, a professor at Georgetown University Center on Education and the Workforce. This substantial financial benefit is quantifiable and holds true even when factoring in the cost of college and potential student loans. The value of a college degree has more than doubled compared to a high school degree, making it a wise investment for many individuals.

Introduction

3min

Analyzing the Trends in College Enrollment and Gender Discrepancy in Earnings

3min

The Cost-Benefit Analysis of College Attendance

6min

College Degrees and Employment Impact

8min

College Trends in the United States

9min

The Changing Landscape of Education and Training in America

2min

Exploring the Value of College Degrees and ROI

7min

Is college worth it? Many Americans are beginning to boldly state, “Nope!” But does the growing anti-higher education sentiment point to facts or fiction around the cost of college? We invited Dr. Anthony P. Carnevale, research professor and director of the Georgetown University Center on Education and the Workforce, to the show to give us up-to-date data on the true ROI of a college degree.

With America’s shockingly low college graduation rate and student loans being one of the biggest limiting factors of financial freedom for many Americans, it’s understandable why so many people are skipping college to go straight into the workforce. But the data paints an entirely different picture. Those who opt out of the traditional four-year degree system could be making a massive mistake, one that could cost them seven figures in the long run. A sum that size could be the game changer for finding financial independence.

In this show, we ask Dr. Carnevale about why college has gotten so expensive, the problem with freezing tuition, which majors make the most (and the least), and whether where you go to college even matters. Plus, he shares some shocking statistics about how much a degree is worth and why one group of Americans is ditching degrees in today’s strong economy.

In This Episode We Cover:

Keller Williams' settlement of $70M in the NAR agent commission lawsuit and what this means for the future of agent commissions

The rise of “niche” brokers and agents and why they may THRIVE in the coming years

Our crucial advice for first-time homebuyers that you CANNOT miss

Commercial real estate losses and how hard IS it to get an investor loan today? (this will surprise you)

New jobs report numbers that took many economists by surprise and what effect it could have on future mortgage rates

And So Much More!

Links from the Show