Is College Worth It - IACAC

Is College Worth It?

Jon McGee, Vice President for Planning and Public Affairs College of Saint Benedict/Saint John's University

Boom

Two-thirds of all students head

to college within a year of graduating from high school, up from 60% a generation ago

Source: US Dept of Education, NCES

Why College?

100% 90% 80% 70% 60% 50% 40% 30% 20% 10%

0%

86% 76%

72%

To Get a Better Job

Reasons Identified as "Very Important" in deciding to go to college

70% 70% 73%

82% 75% 77%

71% 62% 65%

To Make More Money To Learn More About Things That Interest Me

1994 2004 2014

To Gain a General Education and

Appreciation of Ideas

Source: UCLA/HERI, CIRP "Survey of the American Freshman"

Aspiration

What Drives College Outcomes?

Motivation

Preparation

What is "Worth" Anyway?

Is it Worth It?

On virtually every measure of economic wellbeing and career attainment ? from personal earnings to job satisfaction to the share employed full-time ? young college graduates are outperforming their peers with less education.

And when today's young adults are compared with previous generations, the disparity in economic outcomes between college graduates and those with a high school diploma or less formal schooling has never been greater in the modern era.

Pew Research Center "The Rising Cost of Not Going to College"

February 2014

Education and the Jobs of the Future

65% of all jobs will require postsecondary education by 2020.

Note: Job vacancies arise from two sources. There are brand new positions created as an occupation grows, and there are pre-existing jobs that people leave behind when they retire or move into other occupations.

Source: The Georgetown University Center on Education and the Workforce

Wanted: Educated Minnesotans

Postsecondary education

requirements are forecast to be

higher for newly created positions

(85%) than for replacement positions (70%)

Source: The Georgetown University Center on Education and the Workforce

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