No one would argue that postsecondary education is the most likely path to greater earnings and a better quality of life. However, just how much education and what type is debatable.
For decades, parents and educators have preached fervently that a college education—preferably at a top-tier school— is the way to wealth, happiness, and security, and advanced degrees offer even more assurance that you will achieve these prized goals. And for decades, that message proved to be true for many who chose that route.
Things have changed. Having a college degree no longer guarantees that you will find a job in your chosen field, much less be wealthier, happier, and have more security than someone who chose a different path. In fact, it may be a liability. (more...)