Making College Pay Part Two
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 15 August 2021
⏱️ 23 minutes
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Summary
The cost of college makes for frightening headlines. The outstanding balance of student loans is more than $1.5 trillion nationally, while tuition continues to rise. And on the heels of a pandemic that nearly dismantled the traditional college experience, we have to wonder: Is college really worth it?
To help answer that question, we're joined this weekend by economist Beth Akers, whose recent book, Making College Pay: An Economist Explains How to Make a Smart Bet on Higher Education, shows how to improve your odds by making smart choices about where to enroll, what to study, and how to pay for it
It’s true that college is expensive, but once we see higher education for what it is, an investment in future opportunities, job security, and earnings, a different picture emerges: The average college graduate earns an additional million dollars over their career (compared to those who stopped their education after high school), and on average, two- and four-year schools deliver a 15 percent return on investment, double that of the stock market.
Yet these outcomes are not guaranteed. Rather, they hinge upon where and how you opt to invest your tuition dollars.
Simply put, the real problem with college isn’t the cost, it’s the risk that your investment might not pay off.
Have a money question? Email us, ask jill [at] jill on money dot com.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Transcript
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| 1:04.0 | Welcome to the Jill on Money Podcast. |
| 1:06.0 | It's Sunday, August 15th, and today we have part two of our interview with Death Acres. |
| 1:12.4 | Now, if you missed yesterday, go listen to that first, because she's got a great way |
| 1:17.5 | of explaining what are usually kind of boring economic concepts. |
| 1:21.6 | So we're talking about college, but she is approaching college from an economic perspective, |
| 1:27.7 | meaning yesterday we talked about systemic risk and idiosyncratic risk, but today we're |
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