I found this interesting article at an “investment” website called The Motley Fool. It is not based on emotive feelings but on cold economic fact. The main article is a lot more interesting than the teaser, also from the article, I print here/
Oversupply looks to have reduced the value of a degree.
The proposed increase in university tuition fees has been in the headlines for the last few weeks, in large part thanks to the violent demonstrations in central London. Then again live TV violence always sells; as the saying goes, “if it bleeds, it leads.”
It’s human nature to complain about price rises, at least when it concerns those goods and services which you consume. But tuition fee increases are also posing a question that many prospective students should ask themselves; is a full-time university education worth it?
Many have found to their cost that it wasn’t, particularly those who studied subjects that most employers consider to be less worthy. Many would-be students might benefit from being a little bit more selective in what they study instead of focusing upon tuition fees.
It’s hard to put a price on an education because many of its benefits are non-monetary. Education doesn’t just improve a person’s quality of life; education rewards society if only because it should increase tax revenues and reduce crime rates (the well educated are reckoned to be less likely to commit crimes).
Whilst we can value these non-monetary factors (the courts do it all the time when assessing damages for personal injury), I will ignore them for the rest of this article.
What’s a degree worth?