College Is Worth the Cost. Here's How Schools Can Prove It.

There are an increasing number of people who want to know if university education is worth investment. Many future students, especially students going to college for the first time, are skeptical of the value of the college degree. According to the recent Wall Street Journal / NBC News Survey, 57% of those who do not have a university degree think that the university has no value.

This is a terrible statistic - the competition of the world economy is increasingly demanding a university degree. Schools need to better demonstrate return on investment in higher education so that potential students do not doubt "What is all the money I get?"

Research shows the value of university education. According to a survey by Georgetown University, college graduates earn over a million dollars more than high school graduates. It is also important to choose the university's major. The difference between the lifetime income of the highest and the lowest university major students is 3.4 million dollars

Students from family members of graduate students benefit from university education every day through their parents and community. However, for background students with less privilege, it is difficult to understand the advantages of the university.

At university, I can not prove that a degree leads to employment or a rise in future wages. In order to restore confidence in the value of higher education, universities should provide baseline information in a concise way to show the results of academic programs. This information includes the following items. The cost of the degree, the expected employment prospects and salary results expected for a specific market specific course, the course required for graduation, and the debt burden the student should bear. Based on this information, students can make informed choices.

As chairman and chief executive officer of Adtalem Global Education, I am pleased to announce our organization through a year-long tough process to develop and execute our student's commitment We guided our academic quality and values ​​program commitment to include information on program performance indicators such as program costs, debt and default rates, undergraduate course income by program, health care and medical plan license data Includes 1 page inclusion disclosure.

This information will help students judge whether a particular academic program is suitable for them and provide necessary support after enrollment. We will review and update our students' promise every year

Restarting students' beliefs on the value of college education should be the main task of educators. It will be tragic if higher education institutions fail to prove the value of the university to those who benefit most from the degree.

Using these data and other data, economics professor David Otell proved that the university is worth seeing economically. His findings show that the real money cost of college degree is $ 500,000. How is that possible? Autor discovered that people who never went to college missed $ 500,000 in lifetime. His calculation takes into account the average cost of a four-year degree. Knowledge college gives you great stuff, but is it translated into work? According to research, people attending college have more employment opportunities than ever. As of 2017, only 34% need high school diplomas or lower degrees. The remaining 66% belongs to those with at least associate degrees. This proportion only increases with time. In addition, between 2010 and 2016, 99% of employment growth is related to work requiring an associate degree.

Is the college degree worth the money? This is a recurring problem in media coverage on economics, employment market, and soaring tuition fees. Annual "Princeton Review" annual "Survey of university hope and concern" shows that unease about university costs and values ​​is obvious. The average debt of 2013 graduates reached nearly $ 25,000, with debt outstanding for student loans over 1 trillion dollars. However, the benefits of university education are realistic, far beyond labor statistics and salary statistics.