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The Most (And Least) Worthwhile Degrees | Zero Hedge
For many young people, the decision of whether to extend their education careers and attend university is a tough one to make. With soaring costs, Statista's Martin Armstrong notes, not all that choose to do a bachelor's degree graduate with the feeling that it was all worthwhile.
Emolument surveyed 1,800 graduates to reveal that the most regretted major is psychology. Only 33 percent of bachelors of this particular science said their degree was worth it. On the other end of the scale, 87 percent of chemistry and natural sciences alumni said they felt their studies were worth it.
We are reminded of The Mises Institute's Josh Grossman comments, that easy access to student loans has created demand for useless degrees.
Last week, former Secretary of Education and US Senator Lamar Alexander wrote in the Wall Street Journal that a college degree is both affordable and an excellent investment. He repeated the usual talking point about how a college degree increases lifetime earnings by a million dollars, “on average.” That part about averages is perhaps the most important part, since all college degrees are certainly not created equal. In fact, once we start to look at the details, we find that a degree may not be the great deal many higher-education boosters seem to think it is.
In my home state of Minnesota, for example, the cost of obtaining a four-year degree at the University of Minnesota for a resident of Minnesota, North Dakota, South Dakota, Manitoba, or Wisconsin is $100,720 (including room and board and miscellaneous fees). For private schools in Minnesota such as St. Olaf, however, the situation is even worse. A four-year degree at this institution will cost $210,920.
For many young people, the decision of whether to extend their education careers and attend university is a tough one to make. With soaring costs, Statista's Martin Armstrong notes, not all that choose to do a bachelor's degree graduate with the feeling that it was all worthwhile.
Emolument surveyed 1,800 graduates to reveal that the most regretted major is psychology. Only 33 percent of bachelors of this particular science said their degree was worth it. On the other end of the scale, 87 percent of chemistry and natural sciences alumni said they felt their studies were worth it.
We are reminded of The Mises Institute's Josh Grossman comments, that easy access to student loans has created demand for useless degrees.
Last week, former Secretary of Education and US Senator Lamar Alexander wrote in the Wall Street Journal that a college degree is both affordable and an excellent investment. He repeated the usual talking point about how a college degree increases lifetime earnings by a million dollars, “on average.” That part about averages is perhaps the most important part, since all college degrees are certainly not created equal. In fact, once we start to look at the details, we find that a degree may not be the great deal many higher-education boosters seem to think it is.
In my home state of Minnesota, for example, the cost of obtaining a four-year degree at the University of Minnesota for a resident of Minnesota, North Dakota, South Dakota, Manitoba, or Wisconsin is $100,720 (including room and board and miscellaneous fees). For private schools in Minnesota such as St. Olaf, however, the situation is even worse. A four-year degree at this institution will cost $210,920.
