TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Saturday, October 6, 2012

Hamilton Project: Lifetime Earnings Bump for College Grads Trumps Higher Costs

The Hamilton Project:  Regardless of the Cost, College Still Matters:

There is ongoing debate about the rising cost of college and whether that investment is still worthwhile in today's economy. In this month's employment analysis, The Hamilton Project examined rising college costs over the last three decades and compared those costs with the benefits one receives from a college degree. The findings showthat while college is 50% more expensive today than it was 30 years ago, the increase to lifetime earnings that a college degree brings is 75% higher today. Although the cost of college is growing, the benefits of college—and, by extension, the cost of not going to college—are growing even faster. The returns to college attendance are much higher than other investments, such as stocks, bonds, and real estate.

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Uggh....these studies are meaningless because (ARE YOU LISTENING?) ALMOST EVERY NON-BLUE COLLAR JOB IN THE US REQUIRES(!!!) A COLLEGE DEGREE. Even though a BA seldom teaches anyone any job skills. Do you understand how this a$$ backwards circular logic applied to the value of a college degree may be missing a rather large piece of the puzzle?

Posted by: Anon | Oct 6, 2012 12:40:28 PM

Four words:

Progressive Income Tax Rates.

Did this study from "The Hamilton Project" (methinks I smell a front group for Big Academia - take them into account?

If they show the same precision in financial analysis as they do in word choice ("Regardless of the Cost..." for a cost-benefit analysis?!?!) then I don't think I would trust them with a quarter to put in a parking meter...

Posted by: cas127 | Oct 8, 2012 7:06:41 PM