$90 Billion Available in Student Financial Aid,
with Scholarship Growth Outpacing Loan Growth
But, Feeling the Economic Squeeze, Colleges Continue to Raise Tuition
Keeping an Eye on the Prize: The Value of a College Education
Caperton urged students and parents alike to weigh the cost of a college education against the value it will bring over a lifetime. College graduates can still expect to make an average of $1 million more over their professional lives than can their high school-graduate counterparts (see Exhibit 6). And the value of a degree is actually heightened in a weak economy. According to a recent study, 1.1 million new jobs for college graduates were added over the last year while 2 million nondegree jobs were eliminated. "In addition to potential financial gains, it is more important than ever that we encourage our students to pursue a college education -- it is the best investment we can make to foster knowledgeable and empowered citizens," Caperton said.
