The Inflation of Higher Education
How far does a university degree get you? If you think you’ll automatically earn a better job, status, and higher pay, congratulations. You’ve bought into the myth.
Higher education in America is a bubble. There are exceptions, of course. What Big 3 consulting firm can argue with a Harvard MBA? But by and large, the trend is clear.
This bubble, according to Agora Financial’s Eric Fry, is rooted in a belief:
Once upon a time, a college education in America was a one-way ticket to a high-paying job and a lofty socio-economic status. Part of its value derived from the fact that a college education was relatively rare. In 1950, only about 5% of all Americans held a bachelor’s degree.
Since this 5% tended to fare so much better than the rest of the American population, lots of folks began to ask themselves, “Why not send as many kids