College degree premium steadily shrinking

The truth about the pecuniary value of a college degree is finally emerging (“Data highlights the difference in perceived and actual value of a college degree in America,” yahoo.com, May 22.)  I say it’s about time because too many young people are going into heavy debt for a degree that will not pay off.

According to the Economic Policy Institute, going to college is an investment, which needs to be scrutinized. It found that the wealth premium has been dropping steadily.  That’s not surprising because so much depends on the major.  When few people went to college, majoring in anything immediately distinguished the graduate from the masses.  But now far more depends on the course of study pursued.

I continue to believe that we have been wildly oversold on the value of a sheepskin.  Young people need to consider a vocational curriculum in high school, coupled with an apprenticeship. 

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