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The Economic Value of Higher Education: Comparing the Benefits of a Four-Year Degree to Those of a Technical Degree. By: Loryn Zimmerman. Objectives. Evaluate the economic advantages/disadvantages of obtaining a college (4-year) degree vs. a technical degree based on:
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The Economic Value of Higher Education:Comparing the Benefits of a Four-Year Degree to Those of a Technical Degree By: Loryn Zimmerman
Objectives • Evaluate the economic advantages/disadvantages of obtaining a college (4-year) degree vs. a technical degree based on: • Projected average costs of obtaining a degree • Projected average debt upon graduation • Job placement in chosen field after graduation • Projected average income after graduation • Evaluate the satisfaction that graduates from both institutions have with their education. • Understand if social concepts of degree value coincide with quantitative data. • Do quantitative and qualitative data both yield the same results? • If not, what does society interpret the value of a degree to be?
Background Information • Average annual tuition for a public 4-year university: $9,000 = $36,000 total • Average annual tuition for a private 4-year college: $35,000 = $140,000 total • Average annual tuition for a technical college: $2,713 = $5,426 total www.collegeboard.com
Background Information, con’t • Average debt for a technical degree: $0-18,000 • Average debt for a 4-year degree: $6,000-32,909 • Average debt for a Master’s degree: $25,000 • Average debt for a Doctoral degree: $52,000 • Average debt for a Professional degree: $79,863 www.finaid.org
Methods • Quantitative data interpretation and gathering • Surveys/Questionnaires • Interviews – both formal and informal • Focus groups • Theoretical Perspective: Functionalist
Why? • Why do this research? • Who could it potentially benefit? • What work has already been done? • What is the significance of this research project to this course?
References Cited • Bureau of Labor Statistics • 2010 “College enrollment up among 2009 high school grads” [internet], Available from http://www.bls.gov/opub/ted/2010/ted_20100428.htm [Accessed April 28, 2011]. • Cole, Jonathan R. • 2009 The Great American University: Its Rise to Preeminence, Its Indispensable National Role, Why It Must be Protected. New York: PublicAffairs. • The College Board. • 2011 “What It Costs to Go to College” [internet], Available from http://www.collegeboard.com/student/pay/add-it-up/4494.html [Accessed April 3, 2011]. • Ellis, Blake. • 2010 “College grads: $24,000 in debt” [internet], Available from http://money.cnn.com/2010/10/22/pf/college/student_loan_debt/index.htm [Accessed March 26, 2011]. • Foy, Morna and Kyle Schwarm. • 2010 “Technical college graduates defy recession trends” [internet], Available from http://www.wtcsystem.edu/news/releases/grads_defy_recession_trends.htm [Accessed March 26, 2011]. • Kantrowitz, Mark. • 2011 “Student Loans” [internet], Available from www.finaid.org/loans/ [Accessed April 3, 2011]. • Marcotte, Dave E., Thomas Bailey, Carey Borkoski and Greg S. Kienzl. • 2005 “The Returns of a Community College Education: Evidence from the National Education Longitudinal Survey.” Educational Evaluation and Policy Analysis 27(2): 157-175. • Mupinga, Davison M. and Kelly Livesay. • 2004 “Consider Vocational-Technical Education for Post-Secondary Education.” The Clearing House 77(6): 261-263. • Standler, Ronald B. • 2001 “Why Attend College?” [internet], Available from www.rbs0.com/edu.htm [Accessed March 20, 2011]. • Trochim, William M.K. • 2006 “Research Methods Knowledge Base: Data Preparation” [internet], Available from http://www.socialresearchmethods.net/kb/statprep.php [Accessed May 1, 2011].
