Freakonomics Radio 500. What Exactly Is College For?
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Apr 21, 2022 Ruth Simmons, the first Black president of an Ivy League school and former head of Prairie View A&M University, dives deep into the evolving purpose of higher education. She discusses the intricate balance between accessibility and prestige within U.S. colleges, shedding light on the unique contributions of Historically Black Colleges and Universities. The conversation also highlights how varied educational paths can lead to success, challenging the traditional views on what it means to achieve in today's system.
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College: An Investment
- College is viewed as a silver bullet for income inequality, offering better lifetime earnings, health insurance, and job satisfaction.
- Economists see it as a crucial investment for individuals and society, enhancing democratic processes and social fabric.
Declining Confidence and Enrollment
- Public confidence in higher education is declining, falling below 50%, with the steepest drop among Republicans.
- Only 38% of Americans over 25 hold bachelor's degrees, and college enrollment has been declining, worsened by the pandemic.
Disproportionate Impact
- Pandemic-related college enrollment declines disproportionately affect lower-income and minority families.
- This presents a challenge to using college as a tool to reduce income inequality.