Investing In Higher Education
Investing in higher education is expensive, but almost necessary if you want a decent paying job. College expenses are often looked at exclusively from the perspective of the rising tuition bill facing students and their families; however, it’s important to look at how the overall impact of high college expenses will have on your future. Recently, Forbes released a list of schools that have a good return on investment.
Of course, schools like Stanford, Princeton, Harvard, Dartmouth, and Duke were listed among the tops 10 schools. However, for many of us, “Ivy League” schools are “out-of-our league” because they’re expensive and hard to get into. In fact, there’s a good chance you’re among one of the thousands of students who wait until second semester senior year to start applying.
Nikki Haley, the Governor of South Carolina, believes that students and parents need to plan ahead more for college. “This is not rocket science. Are you placing kids in jobs? Are you coordinating with companies to get apprenticeships? How many in-state versus out-of-state? Is your tuition affordable?” Haley said. “These are basic things any parent wants to know, any student needs to know to plan.”
According to Haley, it’s not necessarily about where you go to school, but if you can afford it. Haley also said you should try to get more specialized and stay away from generalizations. At the Governor’s Public Higher Education Conference in Columbia, Haley brought in higher education leaders, business leaders and lawmakers to work out the details of a new funding system for higher education in South Carolina.
Ideas for nationwide higher education reform include, measuring students by college performance to get a better idea of ROI. The efforts would also measure a student’s chance of graduating, the length of time to obtain a degree, the actual cost, and post-graduate employment options. These measurements would make it easier to develop a student’s expected higher education ROI.