As a recent discussed, if you attend college, you are more likely to earn more money. But, as you might imagine, the financial value of higher education depends on what program you choose and where.
Information on the annual earnings of students from different programs and institutions is exactly what Sen. Ron Wyden, a Democrat of Oregon, and Sen. Marco Rubio, a Republican of Florida, hope to provide. Their recently-introduced “” proposes creating a state-based, individual-level data system linking the average costs and graduation rates of specific programs and institutions to their graduates鈥� accrued debt and annual earnings.
Although useful, Senator Wyden acknowledged that such information is limited and that focusing on financial indicators alone could undermine the importance of liberal arts鈥攚hose graduates may not earn large salaries right after college. He stated that the bill鈥檚 intention is 鈥渢o empower people to make choices.鈥� However, 鈥減eople鈥� include not just students, but policy makers鈥攕uch as Florida鈥檚 who sparked controversy last October when he asserted that state money should go to job-oriented fields, rather than fields like anthropology which, he said, do not serve the state’s vital interest.
Regardless of the bill鈥檚 success, about half of the states already have the ability to link postsecondary academic records with labor data. And some, such as , have already done so. Here in Washington, the is in the process of connecting certain employment and enrollment data for schools, such as the UW, to analyze in the coming months.
All this begs the question: Is college chiefly for personal economic gain?
A recent by the College Board highlights both the financial and nonfinancial payoffs of college. Additionally, David A. Reidy, head of the philosophy department at University of Tennessee Knoxville, stated in a recent Chronicle that four-year degrees, particularly in liberal-arts, are not solely for job training. “The success of the American democratic experiment depends significantly on a broadly educated citizenry, capable of critical thinking, cultural understanding, moral analysis and argument,” he wrote. Philosophy and other core disciplines help nurture such a citizenry, he continued, “And the value there is incalculable.”