College Still Key to Success


In case you doubted it, a college education can help point you to a more successful life. That means that
despite all of the grim news about college debt, a college education is worth the money.

A new Wells Fargo study says that even though debt is a big burden, “…a college education still appears to be the surest way to economic success.”   Economists found college educated workers are less likely than those without college to be unemployed and their economic prospects are brighter.

Researchers did factor in the 37 million, the New York Federal Reserve says are struggling to pay their outstanding student loan debt.  And they noted that it’s taking young people longer to move out of their parents’ homes, get married and buy their own homes. But they say the overall picture remains rosier for college grads than it does for those with just a high school education.

A particularly interesting insight in this report questions the value of for-profit-colleges.  It says, “…the significantly higher rate of defaults seen at for-profit institutions does little to allay concerns over whether these institutions are indeed bettering their students’ economic prospects.”

 

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Barbara Nevins Taylor

As the winner of 22 Emmy Awards and a slew of journalism honors and awards, I created ConsumerMojo.com to give you the straight story about complicated stuff. Tell us what you want to know and we'll get you the answers.