Is College Still a Worthwhile Investment?


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We’ll save the drama — even in an era of bloated tuition costs, ballooning student loan debt, and a weakened American job market, the answer to the general question of whether a college degree is still worth the investment remains a resounding, “Yes.”

Yet, this affirmative answer is strapped with a Barry Bonds-sized asterisk; not every degree from every school for every individual is actually worth the investment. A more extensive and more personalized examination is necessary to be of any useful guidance. We begin that examination, with a basic question: is today’s average college graduate still better off than an average high school graduate?

College vs. High School Grads

Survey any high school guidance counselor’s assortment of wall hangings, and you will likely spot some sort of infographic clipped from a newspaper, showing the difference in projected lifetime earnings for the average college grad versus the average high school grad — the estimate is about $800,000 more for the degree earner (our very own Michael Trivette contributed to this research topic - See "Accounting for Risk of Non-Completion in Private and Social Rates of Return to Higher Education"). It’s no secret that more years of education equates to higher earning potential. In fact, scholars estimate that each additional year of education adds somewhere between 6 percent and 10 percent to one’s annual earnings.

The advantage doesn’t end with salary; benefits such as health insurance and retirement packages are also slanted in favor of college grads. More than 70 percent of college graduates have access to employer-provided health insurance compared to just 50 percent of non-college grads. A similar gap exists when looking at access to retirement plans. College grads also report being more satisfied with their jobs, tend to live longer and healthier lives, and are far less likely to wind up unemployed or in a state of poverty than their non-degree-holding counterparts.

Forgoing higher education is clearly a perilous road, but so is thinking that you’ve got it made just because you are college bound. Over the past decade, earnings for college graduates have increased only by a meager 1 percent. This income stagnation runs concurrent with college tuition prices continuing to skyrocket and 7 in 10 college graduates emerging from their undergraduate years with an average debt load approaching $30,000. Debt can be manageable if a well-paying job awaits upon graduation, but for a frightening number of graduates, such an opportunity fails to materialize.

The Overeducated Barista

While degree attainment was pretty close to a surefire meal ticket a generation ago, simply possessing a credential from an institution of higher education is still necessary but no longer sufficient for entry into a “college-level” job.

Tales of debt-saddled college grads lining up for jobs at Starbucks abound in popular media. In this case, popular perception is backed by statistical proof. In the United States today, more than 40 percent of recent college grads report to jobs that do not require a four-year degree — more than 17 million Americans overall fall into this category.

More than 300,000 of this group are working as waiter and waitresses, almost half a million as customer service reps, 115,000 as custodians, 107,000 as laborers, 83,000 are tending bar at an establishment near you, and the list goes on and on (mail carriers, flight attendants, landscapers and construction workers all have large contingents of college-educated workers as well).

Of course, there is nothing wrong with making an honest living through any of these means. The real question is whether this was the working life these folks envisioned when they started their higher education journey. Did the server at your local IHOP anticipate delivering Rooty Tooty Fresh ‘N Fruity pancakes to tables of teenagers when he decided to incur $40,000 in educational debt to pursue an art degree? Are the majority of our nation’s educated custodians actually math geniuses trying to pull a Matt Damon from "Good Will Hunting?" Life can always take us down unexpected roads, but it seems unlikely that anyone would willingly chart such a challenging course.

So how does one avoid this pitfall? Is it sheer luck? Perhaps Branch Rickey, the baseball executive who famously brought Jackie Robinson to the Brooklyn Dodgers, said it best, “Luck is the residue of design.”

Whether you’re building a 1940s baseball team or your own educational and career goals, thoughtful design can be the difference between success and failure.

Designing Your Education

In today’s globalized and competitive economy, skills and/or relevant experience matter as much or more than a diploma, primarily because a diploma doesn’t mean what it used to.

Although demand for college-level work has grown, many new degree-holders have failed to acquire practical skills valued in the job market, resulting in widespread unemployment and underemployment among recent graduates. In light of these trends, it is essential that today’s college applicants explore academic programs that lead to genuine learning and distinction, not just a vanilla degree.

To gain more perspective on this topic, be sure to read our past posts about what you need to know when choosing a college major and the most marketable (non-major specific) skills college students should emerge with from their undergraduate years.

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College Transitions

Expert advice for finding the right fit


About This Blog

College Transitions is a team of college planning experts committed to guiding families through the college admissions process. As counselors and published higher education researchers, we aim to bring perspective (and some sanity) to college planning, and we strive to provide students with the support they need to enroll and succeed at a college that is right for them. Learn more at collegetransitions.com

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Calendar

November 2017

Step back in time with a 19th-century costumed interpreter and watch the millstones at work grinding corn into meal. Registration encouraged online. Tickets available at the...

Cost: $5/adult, $3 ages 7-16. Free for ages 6 and younger

Where:
Historic Yates Mill County Park
4620 Lake Wheeler Rd.
Raleigh, NC
View map »


Telephone: 919-856-6675
Website »

More information

Celebrate the wonderful world of exotic animals and reptiles. Enjoy live specimens, presentations, raffles, vendors and much more. Purchase tickets online.  

Cost: $12 ages 13 and older, $5 ages 5-12.

Where:
N.C. State Fairgrounds, Kerr Scott Building
1025 Blue Ridge Rd.
Raleigh, NC
View map »


Website »

More information

Take part in a class that teaches individualized ways to foster motor development for your child. Learn about tummy time alternatives, best positions for your baby, how to help your child learn to...

Cost: $18

Where:
Open Arts
1222 Copeland Oaks Dr.
Morrisville, NC  27560
View map »


Sponsor: Babies On The MOVE
Contact Name: Rebecca Quinones
Website »

More information

Join Mindful Families of Durham, a Buddhist-inspired spiritual community that supports area parents, caregivers, and their children in the practice of mindfulness and the understanding of the...

Cost: Free

Where:
Erwin Road
Durham, NC  27705
View map »


Sponsor: Mindful Families of Durham
Contact Name: Adam, Laura, Josh, Sumi
Website »

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Take part in a class that teaches individualized ways to foster motor development for your child. Learn about carry positions, best positions for your baby, how to help your child learn to crawl,...

Cost: $18

Where:
Open Arts
1222 Copeland Oaks Dr.
Morrisville, NC  27560
View map »


Sponsor: Babies On The MOVE
Contact Name: Rebecca Quinones
Website »

More information

Kicks off the holiday season with local art, music, food, and family activities at various locations in Durham’s historic downtown district. Presented by the Durham Arts Council with support...

Cost: Free and open to the public.

Where:
Downtown Durham
120 Morris St.
Durham, NC  27701
View map »


Sponsor: Durham Arts Council
Telephone: 919-560-2719
Contact Name: Susan Tierney
Website »

More information

Participants develop their naturalist skills and understanding of local nature. Ages 5-8 with parent. Register online.

Cost: $8/resident, $10/nonresident

Where:
Stevens Nature Center/Hemlock Bluffs
2616 Kildaire Farm Rd.
Cary, NC
View map »


Telephone: 919-387-5980
Website »

More information

Celebrate the natural world and where favorite Thanksgiving foods come from. Make a craft. All ages with adult. Register online.

Cost: $1/person

Where:
Crowder District Park
4709 Ten-Ten Rd.
Apex, NC
View map »


Telephone: 919-662-2850
Website »

More information

Search the preserve for hidden holiday-themed clues and learn about native wild turkeys. Make a turkey decoration. Ages 5 and older with parent. Register online. Choose course code...

Cost: $1/person

Where:
Horseshoe Farm Nature Preserve
2900 Horse Shoe Farm Rd.
Wake Forest, NC
View map »


Website »

More information

Search for salamanders, owls and more. Ages 10-13. Register online.

Cost: $12/resident, $16/nonresident

Where:
Stevens Nature Center/Hemlock Bluffs
2616 Kildaire Farm Rd.
Raleigh, NC
View map »


Telephone: 919-387-5980
Website »

More information

Park West Village hosts Winter Wonderland in the District. This year’s event will take place the weekend of November 17th. Take the family to enjoy train rides, magical winter lights, live...

Cost: Free; $5 donation for sledding

Where:
Park West Village
3400 Village Market Place
Morrisville, NC  27560
View map »


Telephone: 919-234-6710
Contact Name: Conner Dixon
Website »

More information

See ponies, hunters and jumpers compete in an event that benefits Duke Children's Hospital. Visit the website for hours and fees.

Cost: See website for fees

Where:
Gov. James B. Hunt Horse Complex
4601 Trinity Rd.
Raleigh, NC
View map »


Website »

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Children ages 18 months-4 years and their parents enjoy free creative movement and music classes. The creative movement class focuses on the development of gross motor skills and...

Cost: Free

Where:
Saint Raphael Preschool
5801 Falls of Neuse Rd.
Raleigh, NC  27615
View map »


Sponsor: St. Raphael Preschool
Telephone: 919-865-5725
Contact Name: Sarah Rapp
Website »

More information

Make crafts celebrating turkeys. All ages with adult. Meet at the Cardinal Shelter. Registration not required. 

Cost: Free

Where:
Crowder District Park
4709 Ten-Ten Rd.
Apex, NC
View map »


Telephone: 919-662-2850
Website »

More information

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Children ages 18 months-4 years and their parents enjoy free creative movement and music classes. The creative movement class focuses on the development of gross motor skills and...

Cost: Free

Where:
Saint Raphael Preschool
5801 Falls of Neuse Rd.
Raleigh, NC  27615
View map »


Sponsor: St. Raphael Preschool
Telephone: 919-865-5725
Contact Name: Sarah Rapp
Website »

More information

Kids ages 6 and younger enjoy stories. Take part in an optional arts and crafts session after storytime for $5.

Cost: Free

Where:
Read With Me Book Shop
111 E. Hargett St., $110
Raleigh, NC  27601
View map »


Website »

More information

Learn what it was like to be a kid at the first Thanksgiving. Play games and make a food collage. Choose either the 10:30-noon and 2-3:30 p.m. session. Ages 7 and older. Register online.

Cost: $6/child

Where:
Historic Yates Mill County Park
4620 Lake Wheeler Rd.
Raleigh, AL
View map »


Telephone: 919-856-6675
Website »

More information

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Toddler Time is a special time for ages 5 and younger to bounce under the supervision of their parents, and without interference from the big kids. Purchase tickets online.

Cost: $7-$10

Where:
Sky Zone Durham
1720 Guess Rd., Ste. 90
Durham, NC  27701
View map »


Website »

More information

Children ages 18 months-4 years and their parents enjoy free creative movement and music classes. The creative movement class focuses on the development of gross motor skills and...

Cost: Free

Where:
Saint Raphael Preschool
5801 Falls of Neuse Rd.
Raleigh, NC  27615
View map »


Sponsor: St. Raphael Preschool
Telephone: 919-865-5725
Contact Name: Sarah Rapp
Website »

More information

Explore the woods and shoreline for signs of nature and collect treasures to make a craft. Take a full water bottle, snack and a bag lunch. Ages 6-11. Meet at the Cypress Shelter. Advance...

Cost: $16/child

Where:
Harris Lake County Park
2112 County Park Dr.
New Hill, NC  27562
View map »


Sponsor: Harris Lake County Park
Telephone: 919-387-4342
Contact Name: Jackie Trickel
Website »

More information

Kids ages 6 and younger enjoy stories. Take part in an optional arts and crafts session after storytime for $5.

Cost: Free

Where:
Read With Me Book Shop
111 E. Hargett St., $110
Raleigh, NC  27601
View map »


Website »

More information

Listen for the sound of silver bells and climb aboard in your pajamas for a first-class journey on the Polar Express. Come early to meet Santa and enjoy kid-friendly activities and a traditional...

Cost: $14-$29

Where:
Meymandi Concert Hall
2 E. South St.
Raleigh, NC  27601
View map »


Website »

More information

Athletes improve their flexibility, balance, joint mobility, as well as body and breath awareness. Special attention will be paid to core strength and posture and its importance in performance and...

Cost: Call for fees

Where:
Little Guru Kids Yoga and Creative Arts
215 Glenwood Avenue, Suite A
Raleigh, NC  27603
View map »


Sponsor: Little Guru Kids Yoga
Telephone: 919-345-5873
Contact Name: Jen Bluestone
Website »

More information

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Children ages 18 months-4 years and their parents enjoy free creative movement and music classes. The creative movement class focuses on the development of gross motor skills and...

Cost: Free

Where:
Saint Raphael Preschool
5801 Falls of Neuse Rd.
Raleigh, NC  27615
View map »


Sponsor: St. Raphael Preschool
Telephone: 919-865-5725
Contact Name: Sarah Rapp
Website »

More information

Show More...
Show Less...

Celebrate what you're thankful for. Play a game and make a pine cone turkey craft. All ages with adult. Drop-in program. Registration not required.

Cost: Free

Where:
Historic Yates Mill County Park
4620 Lake Wheeler Rd.
Raleigh, NC
View map »


Telephone: 919-856-6675
Website »

More information

Shop more than 20 local vendors offering amazing gifts this holiday season. Enjoy daily raffles with proceeds benefiting local animal rescue Paws in the City. Kids can enjoy crafts...

Cost: Free

Where:
Cary Crossroads
333 Crossroads Blvd
Cary, NC  27518
View map »


Website »

More information

Children ages 18 months-4 years and their parents enjoy free creative movement and music classes. The creative movement class focuses on the development of gross motor skills and...

Cost: Free

Where:
Saint Raphael Preschool
5801 Falls of Neuse Rd.
Raleigh, NC  27615
View map »


Sponsor: St. Raphael Preschool
Telephone: 919-865-5725
Contact Name: Sarah Rapp
Website »

More information

A wonderfully kid-paced hour featuring music, play and dancing with toddler stars singing on the mic at Cotton's gently amplified & participatory music show. Children delight in...

Cost: Free with admission

Where:
Pump It Up Raleigh
10700 World Trade Blvd, #112
Raleigh, NC  27617
View map »


Sponsor: Pump it Up
Telephone: 919-828-3344
Contact Name: Owner/manager Kellie Paterson McHugh
Website »

More information

Read the story by Karma Wilson and make a Thanksgiving-themed craft. All ages. Registration not required.

Cost: Free

Where:
Historic Yates Mill County Park
4620 Lake Wheeler Rd.
Raleigh, AL
View map »


Telephone: 919-856-6675
Website »

More information

See a contemporary re-imagination of Tchaikovky's timeless music. Purchase tickets online.

Cost: $35-$55

Where:
Durham Performing Arts Center
123 Vivian St.
Durham, NC  27701
View map »


Website »

More information

See the classic holiday story brought to life onstage featuring favorite characters Santa and Mrs. Claus, Hermey the Elf, Bumble the Abominable Snow Monster, Clarice, Yukon Cornelius and...

Cost: $15 and up

Where:
Fletcher Theater
2 E. South St.
Raleigh, NC  27601
View map »


Website »

More information

See the classic holiday story brought to life onstage featuring favorite characters Santa and Mrs. Claus, Hermey the Elf, Bumble the Abominable Snow Monster, Clarice, Yukon Cornelius and...

Cost: $15 and up

Where:
Fletcher Theater
2 E. South St.
Raleigh, NC  27601
View map »


Website »

More information

See a contemporary re-imagination of Tchaikovky's timeless music. Purchase tickets online.

Cost: $35-$55

Where:
Durham Performing Arts Center
123 Vivian St.
Durham, NC  27701
View map »


Website »

More information

Catch this comedy classic on the big screen—as the symphony plays the charming and delightful score by John Williams live. Purchase tickets online.

Cost: $14-$29

Where:
Meymandi Concert Hall
2 E. South St.
Raleigh, NC  27601
View map »


Website »

More information

Show More...
Show Less...

Fit & Able Productions presents the Turkey Chase trail festival at Umstead Park. Take part in a 5K, 10K or 20K. After the race, enjoy fruit, brownies and other...

Cost: $25-$45

Where:
Umstead Park
8801 Glenwood Ave.
Raleigh, NC  27617
View map »


Sponsor: Fit and Able Productions
Telephone: 919-673-4689
Contact Name: Travis
Website »

More information

Celebrate what you're thankful for. Play a game and make a pine cone turkey craft. All ages with adult. Drop-in program. Registration not required.

Cost: Free

Where:
Historic Yates Mill County Park
4620 Lake Wheeler Rd.
Raleigh, NC
View map »


Telephone: 919-856-6675
Website »

More information

Toddler Time is a special time for ages 5 and younger to bounce under the supervision of their parents, and without interference from the big kids. Purchase tickets online.

Cost: $7-$10

Where:
Sky Zone Durham
1720 Guess Rd., Ste. 90
Durham, NC  27701
View map »


Website »

More information

Shop more than 20 local vendors offering amazing gifts this holiday season. Enjoy daily raffles with proceeds benefiting local animal rescue Paws in the City. Kids can enjoy crafts...

Cost: Free

Where:
Cary Crossroads
333 Crossroads Blvd
Cary, NC  27518
View map »


Website »

More information

The Raleigh Boychoir makes an appearance before its big Christmas concert.

Cost: Free

Where:
Quail Ridge Books
4209-100 Lassiter Mill Rd.
Raleigh, NC  27609
View map »


Website »

More information

Kids ages 6 and younger enjoy stories. Take part in an optional arts and crafts session after storytime for $5.

Cost: Free

Where:
Read With Me Book Shop
111 E. Hargett St., $110
Raleigh, NC  27601
View map »


Website »

More information

See the classic holiday story brought to life onstage featuring favorite characters Santa and Mrs. Claus, Hermey the Elf, Bumble the Abominable Snow Monster, Clarice, Yukon Cornelius and...

Cost: $15 and up

Where:
Fletcher Theater
2 E. South St.
Raleigh, NC  27601
View map »


Website »

More information

Take a 30-minute tour to view the main power drive and milling machinery. Tickets available inside the park's visitor center. Online registration encouraged.

Cost: $5/adult, $3 ages 7-16. Free for ages 6 and younger

Where:
Historic Yates Mill County Park
4620 Lake Wheeler Rd.
Raleigh, NC
View map »


Telephone: 919-856-6675
Website »

More information

Explore the historic nature of Leigh Farm Park with a friendly guide. Venture inside the historic farmhouse while being captivated by tales about life at Leigh Farm throughout the years.

Cost: Free

Where:
Leigh Farm Park
370 Leigh Farm Rd.
Durham, NC  27707
View map »


Sponsor: Durham Parks and Recreation
Telephone: 919-560-1116
Contact Name: Natalya Buckel
Website »

More information

See the classic holiday story brought to life onstage featuring favorite characters Santa and Mrs. Claus, Hermey the Elf, Bumble the Abominable Snow Monster, Clarice, Yukon Cornelius and...

Cost: $15 and up

Where:
Fletcher Theater
2 E. South St.
Raleigh, NC  27601
View map »


Website »

More information

Catch this comedy classic on the big screen—as the symphony plays the charming and delightful score by John Williams live. Purchase tickets online.

Cost: $14-$29

Where:
Meymandi Concert Hall
2 E. South St.
Raleigh, NC  27601
View map »


Website »

More information

Show More...
Show Less...
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