Last week the U.S. House Committee on Education and Labor released a new report making the case that a college degree is still worth the investment. The report entitled “Don’t Stop Believin’ (in the value of a college degree)” attempts to dispel growing public sentiment that a college degree is no longer worth the cost.
According to the Committee, key points from the report include:
- College degrees yield a large return for individuals: bachelor’s and associate’s degree holders earn up to $1 million and $400,000 more than high school graduates over their lives, respectively.
- College is a worthy investment for state governments: for every $1 states invest in higher education, they receive up to $4.50 back in increased tax revenue and lower reliance on government assistance.
- College graduates play a key role in strengthening the American economy. Two out of three jobs are filled by individuals who have at least some college education.
- However, barriers continue to prevent many students of color and low-income students from accessing and obtaining college degrees.
- The next Higher Education Act (HEA) reauthorization should expand access, improve affordability, and promote completion for all students.