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Sameer Aery Miss.

Eaker English 1102 November 07, 2012 Introduction As a freshman, starting a new phase of life numerous questions arise in my mind regarding the fast pace of change in the world economy today and the relevance of the norms that were considered standard ten years ago. Is college education worth the price we pay to earn a degree? Hasnt the success rate for a graduate to be employed in their field of study, depreciated? Do four years of college effectively instill confidence in us? Does the cost of a college education outweigh the benefits provided after graduation? As a college student and the speed with which the world is revolutionizing over the past couple years it raises a question- are social norms that were standard 10 years ago, still typical today? When looking at this question, the topic that is most prevalent to me is if a college education is truly worth what we perceive it as. Some other questions that enter my mind when thinking about this topic are has the success rates for those with a degree when looking at obtaining a job depreciated substantially over the past couple of years? Furthermore, does graduating from a college just give you confidence which is essential when wanting to reach for success or it is the actual degree? Do the benefits outweigh the cost is a question that is asked often in todays society for a multitude of different reasons which will be presented throughout this paper.

Sameer Aery Miss. Eaker English 1102 November 07, 2012 Annotated Bibliography Buam, Sandy. "The Benets of Higher Education for Individuals and Society." CollegeBoard, 2005. Web. 20 Oct. 2012. Sandy Buam conducted a study to uncover the reaping benefits that derive from obtaining a college education. The study uncovered that a student receiving a college degree not only benefits that certain person but it also benefits the society as a whole. This report discovers both the private and public benefits when receiving a higher education. When looking at the individual benefits, the study concluded that when obtaining higher education there is a strong correlation between high level of education and higher earning regardless the race or ethnicity of that person. Other benefits include the income gap between high school graduates and college graduates has appreciated substantially over time; moreover, a college experience is seen more prestigious then no experience at all. When looking at societal benefits, the study concluded the following: Higher levels of education correspond to lower levels of unemployment and poverty, college graduates have a more positive perception on personal health and lower arrest ratings, and higher levels of education correspond with high levels of participation in the community. The College Board is a very credible source for a multitude of different reasons. First, the College Board is known to be the organization you look at when you are trying to decide what a students future plans should be. Sadly, because it is the college board it is evident that they will be more favored when it comes to attending college then not attending college. This study is useful when it comes to showing the benefits in general that derive for the individual for attending college; moreover, the society they are apart of. I intend on including this study when it comes to providing the monetary benefits for the people who do attend

Sameer Aery Miss. Eaker English 1102 November 07, 2012 college. Specifically, I look to the points of income gap solely because of the recession we are in at the moment and the most important fact people are worrying about is money. Hersh, Richard H. "What Does College Teach." What Does College Teach? 296.4 (2005): 140-43. Web. This is a periodical written in the Atlantic Monthly regarding the need to increase the efficiency and quality of college education. The periodical starts off with the question what makes your college worth $35,000 a year. Hersh essentially concluded that in our society today we have very little evidence on why people attend school; moreover, a faith based decision( Hersh) The periodical starts to bring up other pieces of evidence to prove that no one has truly discovered the specifics of what makes college work, rather just the vague statement that it is necessary because students learn. In How College Affects Students, Ernest Pascarella and Patrick Terenzini found that simply going to college makes a major difference in a young person's psychological development. They found that students improve cognitive skills, greater verbal and quantitative competence, and different political, social, and religious attitudes and values. (Hersh) As the periodical progressively continues, Hersh starts to talk about surveys that assess students learning in a college or university. NSSE asks students to rate their educational experience by reporting, for instance, on the quantity and quality of contact with the faculty and on how much homework they receive. The research shows a strong correlation between such educational "engagement" and learning, NSSE scores may be a better measurement of how well schools teach than many of the statistics that find their way into college rankings. But correlation isn't causation, and surveys like this one offer at best an indirect assessment of educational quality. (Hersh) Mr. Richard H. Hersh is the President at Trinity College. He is also the Trustee of college. He assumed office as the 19th president of Trinity College on April 1, 2002. A highly respected scholar of teaching, a champion of liberal arts education and academic excellence, and a proven community leader ("Executive Profile of Richard Hersh.")

Sameer Aery Miss. Eaker English 1102 November 07, 2012 This periodical is essential for this assignment for a multitude of different reasons. Firstly, this article provides a background for my issue as a whole. It expresses to the audience that everyone always tries to influence their children to go to college because it is necessary and you learn from it. The one question that no one has been able to discover is what do they learn that makes it worth the money youre spending. This article provides many studies and surveys that show that students do learn from college; however, continue to vague by overstating the statement numerous times.

Brand, Jennie E., and Xie Yu. "Who Benefits Most from College? Evidence for Negative Selection in Heterogeneous Economic Returns to Higher Education." American Sociological Review 75 (2010): 273-302. Print. The annotation above is from the American Sociological Review article that talking about the Negative Selection theory and how it is relevant and a different perception when looking at my line of inquiry. This article talks about the economic return from a college education and how most scholars are under the impression that those whoa re most likely to attended college also benefit the most from college. This article provides the reasoning on why Jennie Brand and Xie Yu think the opposite. They believe that those who are least likely to attend college receive the most benefits from college. They called this theory the Negative selection hypothesis. They look specifically at those who are considered achievers in high school to those who achieve. This allowed them to dictated if those who underachieve benefit more/most from obtaining a college education. The study essentially concluded that the general argument regarding students obtaining the necessary benefits to outweigh the cost of a college education might not happen solely because they shouldnt be attending college in the first place. This creates a bad image for

Sameer Aery Miss. Eaker English 1102 November 07, 2012 college in general and not only that but hurts the general public by attributing a negative image on the college system to be pointless and not useful. (Brand, Jennie E., and Xie Yu) Jennie E. Brand is Associate Professor of Sociology at the University of California Los Angeles and Associate Director of the California Center for Population Research. She received her Ph.D. from the University of Wisconsin Madison in 2004. Her research centers on inequality and its implications for various outcomes that indicate life chances. This substantive focus accompanies a methodological focus on causal inference and the application and innovation of statistical models for panel data. ("Jennie Brand, Ph.D., M.S.") This source is very relevant to my inquiry question but it also brings a new aspect of my line of inquiry. It is creating the possibly of not college specifically costing too much but contributing that to the excessive amount of people going to college who dont even benefit from it in the sense of they cant benefit from it. In essence, this article is proving that many students who do well in high school attend college and dont really benefit much from it because the traits necessary to be successful are already instilled in them; moreover, and abundance of students are attending a four year university for jobs that require little to know college experience. This provides a new spectrum on my line of inquiry and created an interest in me to continue to research about it.

Reaping the Benefits: Defining the Public and Private Value of Going to College. The New Millennium Project on Higher Education Costs, Pricing, and Productivity." Institute for Higher Education Policy, 1998. Web. 19 Sept. 2012. This annotation examines both individual and societal benefits when it comes to attend to students attending college. The study starts off with a short informational section on who influences students to attend college and how the federal and state government played a large

Sameer Aery Miss. Eaker English 1102 November 07, 2012 role in that. The study looked at an abundance of different benefits varying from economic benefits dealing with taxes, productivity, and financial support. The study also presents private benefits that include the higher salaries, employment levels, and mobility. The social benefits vary from reduce in incarceration rates to an increase in social cohesion. Last, the private benefits include improve life expectancy and leisure activities. The study concludes diminishing support for higher education's diverse benefits would have a negative consequence on the nation's ability to prosper and succeed. ( Reaping the Benefits: Defining the Public and Private Value of Going to College) The Institute for Higher Education Policy (IHEP) is a nonpartisan, nonprofit organization committed to promoting access to and success in higher education for all students. Based in Washington, D.C., IHEP develops innovative policy- and practice-oriented research to guide policymakers and education leaders, who develop high-impact policies that will address our nations most pressing education challenges. Co-founded in 1993 by higher education expert and Lumina Foundation for Education President and CEO Jamie P. Merisotis, IHEP offers a nonpartisan perspective through a staff that includes some of the most respected professionals in the fields of public policy and research. It is committed to equality of opportunity for all and helps low-income, minority, and other historically underrepresented populations gain access and achieve success in higher education. This devotion is the major factor for its five areas of focus: access and success, accountability, diversity, finance, and global impact. The study was published in 1998 and in order for me to be able to compare if the rates for college have depreciated it is essential for me to compare statistics from studies 20 years ago to statistics that have come out in the past couple years.

Sameer Aery Miss. Eaker English 1102 November 07, 2012 "Are Too Many Students Going to College?" The Chronicle of Higher Education 56.12 (2009): B7-B10. Web. The annotation above represents an article that discusses the issue of students attending college. Rather then discussing the benefits and costs that are affiliated with attending college, this article specifically looks at those students who attend college and if they should truly be attending college or if they are forced to. Experts in this discussion vary from Daniel Yankelovitch, chair of Viewpoint Learning, Inc. The questions that are mostly discuss deal with how to economy benefits or hurts from the increase in amount of students attending college. Also, who should be paying for these students in order for them to get this secondary education; moreover, when the cost of the education truly outweighs the benefits. When talking about who should or shouldnt go to college, Charles Murry talks about how It has been empirically demonstrated that doing well (B average or better) in a traditional college major in the arts and sciences requires levels of linguistic and logical/mathematical ability that only 10 to 15% of the nations youth posses. It does mean that the four year residential program leading to a B.A is the wrong model for a large majority of young people. ("Are Too Many Students Going to College?") On the other side, you have experts like Sandy Baum who says, Everyone should have the opportunity to continue his or her education after high school without finances creating an insurmountable barrier. The Chronicle of Higher Education is the No. 1 source of news, information, and jobs for college and university faculty members and administrators. Based in Washington, D.C., The Chronicle has more than 70 writers, editors, and international correspondents. The Chronicle is a nine-time finalist for the National Magazine Awards, and one of its columnists was a finalist for

Sameer Aery Miss. Eaker English 1102 November 07, 2012 a 2005 Pulitzer Prize. The Chronicle has also received honors from the Education Writers Association, the Society of News Design, the EPpy Awards, and the Webby Awards, among others. ("About The Chronicle.") My reasoning for using this issue of the Chronicle of Higher Education is because it presents both sides of the spectrum on my line of inquiry. First, it is an article that is relevant to my topic; moreover; consists of experts who can be accreted for what they are saying. Second, this article is pertaining to not just one aspect of my line of inquiry, rather evaluates that topic from a multitude of different issues. This source has helped bring a rather broad topic into a narrower idea in my head by focusing on only general questions that the public is questioning, as oppose to looking at very specific, unknown questions.

Work Cited "Executive Profile of Richard Hersh." Bloomberg Business Week. Bloomberg, n.d. Web. 07 Nov. 2012. "Jennie Brand, Ph.D., M.S." Jennie Brand, Ph.D., M.S. Robert Wood Johnson Foundation Health & Society Scholars., 2008. Web. "About The Chronicle." The Chronicle of Higher Education. N.p., n.d. Web. 07 Nov. 2012. <http://chronicle.com/section/About-the-Chronicle/83>.

Sameer Aery Miss. Eaker English 1102 November 07, 2012 "Reaping the Benefits: Defining the Public and Private Value of Going to College. The New Millennium Project on Higher Education Costs, Pricing, and Productivity."Education Resource Information Center. Institute for Higher Education Policy, Washington, DC., n.d. Web. Buam, Sandy. "The Benets of Higher Education for Individuals and Society." CollegeBoard, 2005. Web. 20 Oct. 2012. "Are Too Many Students Going to College?" The Chronicle of Higher Education 56.12 (2009): B7-B10. Web. Hersh, Richard H. "What Does College Teach." What Does College Teach? 296.4 (2005): 140-43. Web.

Discussion Section

Does the cost of a college education outweigh the benefits? When looking at the negatives that come from a college education there seems to be copious amount information

Sameer Aery Miss. Eaker English 1102 November 07, 2012 regarding this issue. An abundance of analyses have been conducted over the years to create a new light on this issue. When looking at the ability to gain a job with or without a college degree, many experts say you have a better chance to obtain a job with a degree. One thing these experts dont take into consideration is the current economic state we are in now. Sadly, we are in a position were we have a scare supply of jobs for the United States and it is difficult for every human being to be employed. According to the Center for Labor Market Studies at Northeastern University, despite the claims of the Georgetown researchers, the available empirical evidence overwhelmingly supports the view that the personal and social payoffs to a college degree occur largely when graduates have access to jobs within the college labor market and that gains to a college diploma are quite small when graduates are relegated to jobs outside of the college labor market. Due to the extremely high unemployment rates, it was quite evident the job market is nonexistent, thus the statistics of job employment cant be used when deciding if the cost of a college education outweigh the benefits in todays time. (Harrington, Paul E., and Andrew M. Sum.) Another issue that revolves around the statistics dealing with a college education is why a college education has such a bad reputation in todays society. Many people look at a college education as a possible waste as oppose to ten years ago. Experts claim that the decrease in salary, job obtainment, and success is due to the economy whereas there are new studies that show that the reason the reputation of college has depreciated substantially is because of the people attending college. According to the American Sociological Review, Jennie Brand and Xie Yu found that the negative selection theory is evident in the college system. They concluded that those who are most likely to attend college dont really gain that much out of it, rather it is

Sameer Aery Miss. Eaker English 1102 November 07, 2012 those who are most likely to not attend college that gain the most. Sadly, those who are attending college at this most are those who are most likely to attend which is essentially degrading college as a whole. A study that is closely affiliated with this has the same idea about those who attend college. ("Jennie Brand, Ph.D., M.S.") The Chronicle of Higher Education conducted a study called Are Too Many Students Going to College which provides a debate between an abundance of different experts all revolving around the same question on if too many students are attending college or not. Charles Murray talks about how, It has been empirically demonstrated that doing well (B average or better) in a traditional college major in the arts and sciences requires levels of linguistic and logical/mathematical ability that only 10 to 15% of the nations youth posses. It does mean that the four year residential program leading to a B.A is the wrong model for a large majority of young people. ("About The Chronicle.") Luckily, this article provides both the opposing and affirming view on this issue. Sandy Buam says, Everyone should have the opportunity to continue his or her education after high school without finances creating an insurmountable barrier. ("About The Chronicle.") More negatives have been concluded about a college education. American Enterprise Institute found that most students arent even ready for college level courses and material. Their studies show that only 9-12% of college students are actually ready to attend college. The lack of college preparedness results in large dropout rates among college students. According to Harvard Graduate School of Education, only 56 percent of those enrolling in a four-year college attain a bachelors degree after six years, and less than 30 percent of those who enroll in community college succeed in obtaining an associates degree within three years. (Carlozo, Lou.) For college students who ranked among the bottom quarter of their high school classes, the

Sameer Aery Miss. Eaker English 1102 November 07, 2012 numbers are even more stark: 80 percent will probably never get a bachelors degree or even a two-year associates degree. The large percentage that doesnt graduate still paid the full costs without receiving the benefits. When this is coupled with the fact that 63% of college students default on their student loans, it leaves the dropouts in a state of unrecoverable debt. As a result, society is impacted greatly. According to The American Institute for Research found that dropouts in general amounted to $4.5 billion in lost earnings and taxes to state and federal governments. More issues revolve around the salary issue of high school graduates and college graduates. (Jilani, Zaid) According to ABC News, the average salary for recent graduate in 2009 and 2010 was $27,000, down 10 percent from the previous year. Salaries may be falling, but the cost of getting a degree is rising. In fact, it's outpacing inflation and healthcare. The average cost of a four-year degree is $140,000 -- and climbing.(Newcomb, Alyssa) According to Richard Rothstein at The Economic Policy Institute, wages for college grads outside of finance have stagnated or diminished. If only one area is actually growing in pay while the rest are stagnated or diminished, then it is clear that the benefits are limited. (Stillman, Jessica) When looking at finding a job for those with a degree and those without CNN says, experience also factors into the equation, because many employers value years of experience more than years of education. Also, The University of Hertfordshire research reports, Employers place more emphasis on work experience and a positive attitude than on class of degree when they hiring graduates.( Smith, Alexandra) High school graduates would have more experience since they spent four extra years in the workforce, so their resume may actually be more appealing than a college graduates. The benefits are once again being limited by the costs. The Bureau of Labor

Sameer Aery Miss. Eaker English 1102 November 07, 2012 Statistics reports that the unemployment rate for college grads is the highest since 1970 more than 2.4 million of the unemployed have bachelor's degrees and higher. These 2.4 million unemployed will eventually look to lower jobs that dont require a college degree at all, which further shows how mal-employment is caused. (Davidson, Paul) This leads me to my next point of mal-employment. Mal- employment is essential when a person is getting a job that is not requiring the education they obtained. The New York Times states that, among the members of the class of 2010, just 56% had held at least one job by spring 2011. Even the ones who are able to get jobs dont make use of their college education that cost so much money. Only half of recent college graduates said that their first job required a college degree. This results in 1.94 million graduates under age 30 being mal-employed between September 2010 and January 2011. (Rampell, Catherine.)The amount of employees who are mal employed show that a college education isnt as prestigious as it uses to be. The Center for Labor Market Studies at Northeastern University, 40% of college graduates are currently mal employed. The Northeastern study continues on, stating that if a worker was mal-employed in his/her lost job, he/she is much more likely to be mal-employed in the new job. This results in malemployed college graduates making 35% less on average than their comparable educated peers who obtain employment in jobs that require a college degree. (Headaphol, Jackie.)

When looking at the pros of a college education, it is essential to look at lifetime earnings and job obtainability. According to the U.S. Census Bureau found that people who graduate with bachelors degrees will earn nearly twice as much over the course of their careers as those

Sameer Aery Miss. Eaker English 1102 November 07, 2012 who complete only high school. (Holtom, Brooks C. Holtom, C.) College graduates are almost twice as likely as high school graduates to receive formal training from their employer. The University of Washington forecasts that by 2018, 63% of available jobs in the US will require at least some college education. The study further concludes at current rates, our colleges will have produced 3 million fewer college graduates than demanded by the labor market in 2018. Degree production would have to increase about 10% a year to eliminate this shortfall, therefore, in order to truly obtain job security, it is essential to obtain a degree. This degree cannot only result in more job opportunity, but it can lead to more social mobility for lower income individuals. Ron Haskins of the Brookings Institution found that without a college degree, only 14 percent of Americans from the bottom fifth of parental income reach the top two-fifths. But if they complete college, 41 percent of this same group can then expect to make it to the top two-fifths. For this reason, Time Magazine describes a college education as the most effective social mobility strategy we have. (Haskins, Ron.) According to Harvard University, a one year increase in post-secondary education stock would raise African GDP by .63 percentage points per year. In addition, an increase in college education by just 1 year raises the annual growth by 13% per year. China has also seen benefits due to college education. Between 1998 and 2002, enrollment in higher education increased 165%. (Bloom, David) Robert Fogel of Foreign Policy states that this increase in education is the largest factor of Chinas economy, which could reach $123 trillion by 2040, nearly three times the economic output of the entire world in 2000. (Fogel, Robert) College education has been shown to strengthen the economies of many countries around the world, clearly displaying benefits.

Sameer Aery Miss. Eaker English 1102 November 07, 2012 After doing an abundance of research varying from the pros and cons of a college education, I have been able to articulate an opinion for myself. I feel as if this topic is very broad and contains a copious amount of different sources and arguments. At the end of the day, I feel like a college education is necessary; however, has many flaws inside the system. Some of those flaws have been pointed out such as the negative selection theory saying that the wrong type of kids are attending college and thats why the benefits arent happening anymore. My reasoning for finding this theory credible is because when I ponder about the past and think about those who attended college and those who didnt, there was a fine line that differentiated the two. Those who attend college had to work extremely hard to grant admission or pay for tuition in order to attend college where as now it is virtually impossible for a student to not find a way to attend college; regardless if it would hurt that student in the long run(financial aid). Last, I find it essentially for the government to do their best to attempt to fix or at least make the college system better solely because it is necessary for our society; however, it has been and is continuing to degrade from what it was 20 years ago.

Sameer Aery Miss. Eaker English 1102 November 07, 2012

Work Cited Harrington, Paul E., and Andrew M. Sum. "College Labor Shortages in 2018? : NEW ENGLAND BOARD OF HIGHER EDUCATION." College Labor Shortages in 2018? : NEW ENGLAND BOARD OF HIGHER EDUCATION. N.p., 8 Nov. 2010. Web. Holtom, Brooks C. Holtom, C. "College Is Worth the Cost." Bloomberg Business Week. McDonough School of Business, n.d. Web. Carlozo, Lou. "Why College Students Stop Short of a Degree." Reuters. Thomson Reuters, 27 Mar. 2012. Web. <http://www.reuters.com/article/2012/03/27/us-attn-andrea-education-dropoutsidUSBRE82Q0Y120120327>. Jilani, Zaid. "Report: U.S. College Dropout Rate Resulted In $4.5 Billion In Lost Earnings And Tax Revenues Last Year." ThinkProgress. N.p., 23 Aug. 2011. Web. <http://thinkprogress.org/education/2011/08/23/301932/college-dropout-lost-earningstaxes/?mobile=nc>.

Sameer Aery Miss. Eaker English 1102 November 07, 2012 Newcomb, Alyssa. "As College Tuitions Rise, Some Say It's Not Worth the Cost."ABC News. ABC News Network, 21 May 2011. Web. <http://abcnews.go.com/Business/college-tuitions-riseworth-cost/story?id=13657355>.

Stillman, Jessica. "Is College the Next Bubble?" CBSNews. CBS Interactive, 3 May 2011. Web. <http://www.cbsnews.com/8301-505125_162-38944649/is-college-the-next-bubble/>. Smith, Alexandra. "Experience, Not Degree, Comes First for Employers." The Guardian. Guardian News and Media, 04 Aug. 2006. Web. <http://www.guardian.co.uk/education/2006/aug/04/highereducation.workandcareers>. Davidson, Paul. "Education." Unemployment Rate for College Grads Is Highest since 1970. N.p., n.d. Web. 07 Nov. 2012. Rampell, Catherine. "Many With New College Degree Find the Job Market Humbling."The New York Times. The New York Times, 19 May 2011. Web. Haskins, Ron. "Actually, College Is Very Much Worth It." Time. Time U.S, 19 May 2011. Web. Bloom, David. "Higher Education and Economic Development in Africa." World Bank. Harvard, 25 Sept. 2005. Web. Fogel, Robert. "Foreign Policy Magazine." Foreign Policy. N.p., Jan.-Feb. 2010. We

Sameer Aery Miss. Eaker English 1102 November 07, 2012