It's common these days to hear people complaining about a "college bubble," the idea that way too many kids are wasting money on a diploma that ends up being worthless. Don't buy into that simplified notion, writes Catherine Rampell at the Washington Post. "College is still worth it," she argues, and a look at jobless stats helps explain why. The unemployment rate for people in their 20s who have only a high school diploma is 14%, compared with 5.8% for those with a bachelor's degree. Plus, those with college diplomas tend to make a lot more money.
Yes, we need to do a better job of helping kids make better use of their college years—that includes steering them toward better majors—but first we need to calm down with all this talk about how higher education is a lousy investment. In fact, writes Rampell, citing research from the Hamilton Project, college is "one of the best possible investments you can make, outperforming stocks, gold, long-term Treasurys, AAA corporate bonds, and housing." Click for her full column.