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I am a subscriber who is disappointed with the editorial “What’s that degree going to be worth?” (March 23), which advocates for measuring the value of college by the reported starting salaries of graduates.
The first problem is that the Department of Employment and Economic Development tool cited includes only wages for people employed in Minnesota. Our Minnesota college alumni working outside the state, those who are self-employed, and those who seek additional schooling or fellowships directly after graduation are excluded. A better tool is the Post-Secondary Employment Outcomes (PSEO) Explorer, which shows earnings at one, five and 10 years after graduation, and includes 96% of the U.S. workforce.
A second problem is that the editorial mischaracterizes the actual cost of college attendance. After need-based financial aid and merit scholarships, the average net tuition for first-year students at Minnesota private colleges is under $15,000.
Most importantly, it suggests that starting salary is the best measure of whether college is worth it. That’s a mistake. While liberal arts grads make less than people with technical degrees in the first few years after graduation, over time, their leadership and problem-solving skills result in positions of greater responsibility and outsized impact on society.
Graduates of Minnesota’s private colleges include entrepreneurs, executives, health care professionals, educators and scholars, scientists and engineers, elected officials and policymakers, creatives, attorneys and leaders in countless other professions. The fact that some of them took lower-wage jobs right after graduation is not a good reason to rule out a liberal arts degree.
Of course, students (and their parents) should be well-informed before selecting a college. But they should consider what liberal arts grads can accomplish over an entire career — and not base their decisions on the average hourly salary in Minnesota two years after graduation. According to the Strada Foundation, “Liberal arts grads ... hit their stride later in their careers, experiencing rapid wage growth in their late 30s and early 40s.”