The article, and link, below are new from ED's Weekly Newsletter. Very interesting. Most correctional education research supports the idea that exposure to ANY post-secondary coursework lowers recidivism rates. Thoughts?
"Is Starting College and Not Finishing Really That Bad...? At a time when the benefits of going to college are being questioned more than at any other in recent years The Hamilton Project at The Brookings Institution recently published Is Starting College and Not Finishing Really That Bad? by Michael Greenstone and Adam Looney. This study examines employment and lifetime earnings outcomes for students who begin college but do not finish within the larger context of students with varying levels of education attainment—from less than high school to professional degrees.
There has been much discussion lately about students who begin college but do not finish—especially in relation to concerns about student debt and college costs. In general, Greenstone and Looney note, workers with more education are employed at higher rates and have higher earnings than workers with less education. They point to previous research that shows that the returns to two- and four-year college degrees are substantial.
But, despite the public concern about students who begin college do not attain their degrees, this study suggests that these students may still reap benefits. Using recent employment data, the authors establish that more education does correspond to better employment outcomes, even for those who report some college but no degree. The authors also focus on whether starting college but not completing a degree is financially beneficial for these students. They find that the lifetime earnings of such students are approximately $100,000 higher (present value) than those of their peers who pursue no education beyond high school. Using rate of return on investment as the measurement criterion, the authors’ analysis shows that “getting some college education is an investment with a return that exceeds the historical return on practically any conventional investment, including stocks, bonds, and real estate.” The authors, however, observe that the returns for students who achieve either an associate’s or a bachelor’s degree are the highest. Specifically, “the annual rates of return of investing in an associate’s or bachelor’s degree are two or three times higher than those from alternative investments, including stocks, bonds, gold, treasury bills, and the housing market.” Thus, it is clear that in the current situation more education is advantageous with regard to both being employed and to whether or not students attain their degrees.
This contextualized study is noteworthy primarily for the emphasis it places on the benefits of attending college but not completing a degree."
Comments
We know that in adult ed our learners often "stop out" and then come back later when their situations allow. It seems that the same would apply to older than average college students as well. Life happens, and most older students are holding down jobs in addition to taking classes. Needs of other members of their families often take precedence as well. I would think that it would be hard to know if an older than average college student had "not finished" or was just stopping out until he/she was able to return.
Hi Donna, your comment raises a great point. I also think that older students who "stop out" and then return are often more motivated and focused than their younger peers because they recognize the value of obtaining their degree after beginning and not completing their studies the first time. Additional data and analysis always helps clarify.