Higher Education - Higher Value (11/30/06) - WDRB 41 Louisville News

Higher Education - Higher Value (11/30/06)

Higher Education - Higher Value (11/30/06)

Monday, Kentucky's Council on Postsecondary Education approved a potential 12% increase in the University of Louisville's tuition next year - which could take it up to $7,000 annually.

Certainly, students and parents on tight budgets aren't happy about this. But we need to remember that recent dramatic improvements all across the academic spectrum have caused the value of a U of L education to increase at an even greater rate than its cost. And $7,000 a year is still a bargain for the thing that has the single largest effect on a person's lifetime earning power: a college degree.

According to the Census Bureau, high school graduates will earn an average of just $1.2 million over their working life, while those who earn bachelor's degrees will earn about $2.1 million. That's an average difference of nearly a million dollars over a person's career in exchange for a four-year investment of $28,000. That's an incredible return on investment.

No one celebrates rising costs. But thanks to student loans and other financial assistance programs, a college degree is still within reach of just about anyone with the motivation to get it. No one said it was going to be cheap or easy but everyone agrees it is worth every dime.

I'm Bill Lamb, and that's my...Point of View.

Higher Education - Higher Value (11/30/06)

Monday, Kentucky's Council on Postsecondary Education approved a potential 12% increase in the University of Louisville's tuition next year - which could take it up to $7,000 annually.

Certainly, students and parents on tight budgets aren't happy about this. But we need to remember that recent dramatic improvements all across the academic spectrum have caused the value of a U of L education to increase at an even greater rate than its cost. And $7,000 a year is still a bargain for the thing that has the single largest effect on a person's lifetime earning power: a college degree.

According to the Census Bureau, high school graduates will earn an average of just $1.2 million over their working life, while those who earn bachelor's degrees will earn about $2.1 million. That's an average difference of nearly a million dollars over a person's career in exchange for a four-year investment of $28,000. That's an incredible return on investment.

No one celebrates rising costs. But thanks to student loans and other financial assistance programs, a college degree is still within reach of just about anyone with the motivation to get it. No one said it was going to be cheap or easy but everyone agrees it is worth every dime.

I'm Bill Lamb, and that's my...Point of View.

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