College degree is a dubious investment

With the average tuition and room and board at four-year private colleges up 800 percent since 1980, it’s time to ask if a bachelor’s degree is worthwhile (“Book Review: Two on Student Debt,” The Wall Street Journal, Aug. 2). That’s particularly so when graduates are only modestly wealthier than those who never went to college in the first place.

I keep coming back to “The Sheepskin Psychosis” by John Keats that was published in 1965.  Keats said that college is merely the most convenient place to learn how to learn; it is not an absolute determinant. He correctly charged that we have been wildly oversold on the value of a four-year degree.

If more young people and their parents had read Keats’s book, they would be spared the financial crisis they find themselves in. 

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