An important question on the minds of many American young people and their parents is whether or not college is still a good idea. In a Wall Street Journal article published in January 2024, Douglas Belkin asserts that
For three generations, the national aspiration to “college for all” shaped America’s economy and culture, as most high-school graduates took it for granted that they would earn a degree. That consensus is now collapsing in the face of massive student debt, underemployed degree-holders and political intolerance on campus.
To provide some perspective on the three concerning trends he mentions, first consider the cost of an undergraduate degree. With a 180% increase in tuition from 1980 to 2020, a four-year degree is now in the ballpark of $300k.
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