You hear it all the time nowadays. College is no longer worth the cost. I’ll grant you college isn’t for everyone, never has been, won’t ever be. I also concede it’s not the only path to worthwhile work and a steady income. Trade schools undeniably provide outstanding bang for the buck. Many trades offer paid apprenticeships allowing trainees to earn money while learning on the job.
Still, employers value college degrees and show it by paying those who have them substantially more than they pay those who don’t—upwards of $1 million more over a lifetime. Problem is, a lifetime’s worth of earnings is a slow return on an increasingly unaffordable upfront investment. The cost is immediate and jarring, benefits gradually accrue over decades.
Much of the growing unaffordability in higher education traces to one key trend. There has been steady erosion of the portion of your average state university’s budget paid for by all taxpayers. Here’s what this trend line looks like here in Wisconsin:
As…
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