The Washington Post
June 9, 2015
Pick up any paper or magazine, and you’re likely to see a front-page article on college: It costs too much, spawns too much debt, is or isn’t worth it.
I entered academia 52 years ago as a student of Latin and Greek expecting to enter a placid sector of American life, and now find my chosen profession at the center of a media maelstrom. With college replacing high school as the required ticket for a career, what used to be a quiet corner is now a favorite target of policymakers and pundits. Unfortunately, most commentary on the value of college is naive, or worse, misleading.
Here’s what I mean. First, most everyone now evaluates college in purely economic terms, thus reducing it to a commodity like a car or a house. How much does the average English major at college X earn 18 months after graduation? What is the average debt of college Y’s alumni? How much does it cost to attend college Z, and is it worth it? How much more does the “average” college grad earn over a lifetime than someone with only a high school degree? (The current number appears to be about $1 million.) There is now a cottage industry built around such data.