Many college students, especially students from low-income backgrounds, face significant structural barriers that make it challenging to persist and complete a degree or certificate. These barriers include substantial financial challenges. Student financial aid at the federal and state levels has not kept up with rising college costs, resulting in…

Many college graduates who earn less than their peers are employed in occupations that bring significant benefits to society, as well as high levels of personal satisfaction. It is not easy--nor is there agreement on how--to precisely define the social value of these occupations or to measure the magnitude and distribution of their benefits--but…

This paper examines indicators related to earnings and student loan debt for evaluating return on investment (ROI) for postsecondary education. It first considers four different options for measuring earnings, arguing that measures of postsecondary value should include investment-to-earnings and earnings growth metrics. The paper then discusses…

In 1776, Adam Smith wrote, "the expense of the institutions for education… is… beneficial to the whole society, and may, therefore, without injustice, be defrayed by the general contribution of the whole society," in the "Wealth of Nations." Since then, economists and policymakers have argued that the social returns to higher…

A postsecondary credential is associated with higher levels of earnings, not just in the short term, but over a lifetime. Georgetown University's Center on Education and the Workforce found that college graduates earn more than one million dollars more in lifetime wages, compared to high school graduates. However, many factors influence…

The notion of individual freedom is valued by virtually all social, economic, and political belief systems. To be sure, how it is defined is heavily contested, it is never valued without limits (i.e., it is not an absolute value that trumps all other values), and it is less central to some moral and political philosophies than others. However it…

What does it mean to achieve socioeconomic and racial justice in the United States, and what role can the postsecondary education system play in achieving these aims? Unfortunately, justice is often an elusive concept as it relates to educational achievement. In this paper, the author argues that, to understand the meaning of racial and…

21st century research, to date, indicates that the private and social returns from higher education are substantial. The subtext of both human capital theory and the signaling model is a belief that higher earnings are an indicator of "earned merit"; an assumption called into question, challenging the meritocratic basis for earnings…

Debate over the "skills gap" and how to address it has consumed considerable space in discussions about U.S. higher education, workforce development, and economic strength. The conventional narrative describes a fundamental mismatch between the skills that employers say they need in their employees and the skills that jobseekers possess,…

In this report, we present the results of a thought experiment in which we estimated the potential costs and benefits to society of achieving equality in educational attainment and related workforce outcomes by race/ethnicity, class, and gender. We conducted this thought experiment to clarify the role that education can play in reducing…

Many Americans would agree that all people should have equal educational opportunity and equal pay for equal work. And yet, inequality in postsecondary education access, college completion, and post-college outcomes such as wages stubbornly persists, along with the impression that achieving equal outcomes would be too expensive and would take too…