Tuesday, December 31, 2024

Is College Worth It? Industry Skills/Human Capital and Cost (Higher Education)

There has been debate on whether college has value and produces a high return for individuals and society. To help me understand this idea better I pulled an opinion piece and a large scale survey of college outcomes. So far it seems like college has a positive return for people, income and workforce/industry. However, perception is changing.

There are other college considerations such as self improvement, national innovation, drawing talent and much more that would not be easy to cover in any one article. The true costs and benefits take deep study to fathom fully. 

Three things I think higher education can focus on...

1. Industry alignment ensures we are teaching the skills needed by employers. I kind of came up with a competency model that allows one to adjust the curriculum as the skills change to meet market needs. Individual and program assessments. Updated and updatable skills. Others helped with pieces and aspects.

2. Developing the whole person is possible through implementing self-awareness activities, self-assessments that produce awareness throughout one's life and have value many decades after college. A self-aware American with the globally competitive skills is a force to be reckoned with!

3. Reducing costs, partnering with employers, and increasing access can lead to larger scale human capital development and quality of life enhancements. There are economic benefits in that! The debate will continue on. 

Articles,

Is College Worth It? Pew Review (Fry, Braga & Parker, 2024)



Fry, R; Braga, D. & Parker, K. (2024). Is College Worth It? Pew Research Center. https://www.pewresearch.org/social-trends/2024/05/23/is-college-worth-it-2/

Muller, C. (Dec. 2024)New Research Reveals True Value Of College Education. Forbes. https://www.forbes.com/sites/chrismuller/2024/12/29/new-research-reveals-true-value-of-college-education/

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