Impromptu
What college costs — and what it’s worth
May 2, 2025
Heather Long, an economics columnist at The Washington Post, dives into the rising costs of college and the complex value it holds today. She discusses how inflation and student debt are changing perceptions of higher education, questioning its return on investment. The impact of AI on job opportunities is also examined, sparking debate about the necessity of degrees. Long highlights the social benefits of college, like personal growth and networking, while suggesting a shift towards skill-based education as viable alternatives gain traction.
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Quick takeaways
- The rising tuition costs and student debt are prompting a reevaluation of the true value and necessity of a college degree in today's economy.
- Alternatives like vocational training and apprenticeships are gaining traction as viable paths to financial stability, challenging the traditional importance of a four-year college degree.
Deep dives
The Changing Value of a College Degree
The importance of a college degree in terms of earning potential is being re-evaluated in today's economy. Historically, a college degree has been linked to significantly higher lifetime earnings, with college graduates earning over a million dollars more than non-graduates on average. However, recent data suggests a shift in perception, as less than 25% of U.S. adults now view a degree as crucial for obtaining a well-paying job. Factors such as the rise of artificial intelligence and changes in the job market are complicating the traditional value of a degree, leaving potential students questioning if college is still worth the investment.
