In spite of ever rising tuition and ballooning student loan debts, a large majority of students still desire to attend college, says William J. Bennett, a CNN contributor, and author of “The Book of Man: Readings on the Path to Manhood.” Traditional notions are deeply engrained in the public’s mind. College is considered the path to a better, higher paying job, the best way to make connections and propel a career, and a status symbol, especially for those who go to elite universities. However, given the dismal reality facing college graduates, perhaps the future of higher education will have to change. In some cases, a college diploma may no longer guarantee the high potential lifetime earnings it once did. An online salary ranking system called PayScale.com calculates a student’s 30-year return on investment at the top 1,300 colleges nationwide based on average alumni salary and tuition costs. Their recently issued 2012 report suggests that out of the 4,500 colleges and universities in the nation only the top 800 to 850 give you an annual return on investment greater than 4%. In pure financial terms, students might be better off investing their tuition money in stocks rather than four years with one of our nation’s many colleges…
…Read MorePodcast Series: Innovations in Education
Explore the full series of eCampus News podcasts hosted by Kevin Hogan—created to keep you on the cutting edge of innovations in education.