Galloping inflation in American college fees
FOR decades, college fees have risen faster than Americans’ ability to pay them. Median household income has grown by a factor of 6.5 in the past 40 years, but the cost of attending a state college has increased by a factor of 15 for in-state students and 24 for out-of-state students. The cost of attending a private college has increased by a factor of more than 13 (a year in the Ivy League will set you back $38,000, excluding bed and board). Academic inflation makes most other kinds look modest by comparison. Students may not be getting a good deal in return (see story). ...
Plenty of university graduates are working in low-skilled jobs
YOUNG people often worry whether the qualification for which they are studying will stand them in good stead in the workplace. According to the OECD, college and university leavers are better placed in the labour market than their less educated peers, but this advantage is not even in all countries. Young graduates living in Spain are particularly likely to end up taking low-skilled work, while those in Luxembourg rarely take anything other than a graduate job. American and British students appear to have the biggest incentive to study: British graduates aged 25-34 earn $57,000 on average. Their Swedish peers earn $37,400.