As the price of a college degree continues
to rise, there's growing evidence that the monetary（貨幣的） payoff isn't quite as big as often advertised. The
best estimate now is that a college degree is worth about
$300,000 in today's dollars--nowhere near the million figure that is often
quoted.
"That million number has driven me
crazy!" says Sandy Baum, a Skidmore economist who studied the value of a
college degree for the College Board last year.
Baum's research showed that college graduates
earn, on average, about 20,000 a year more than those who finished their
educations at high school. Add that up over a 40-year working life and the
total differential is about 800,000, she figures. But since much of that bonus
is earned many years from now, taking away the impact of inflation means
that800,000 in future dollars is worth only about 450,000 in today's dollars.
Then, if you remove the cost of a college
degree--about ,30,000 in tuition and books for students who get no aid and
attend public in-state universities--and the money a student could have earned
at a job instead of attending school, the real net value in today's dollars is
somewhere in the 300,000 range, a number confirmed by other studies.
But, especially these days, that still
makes a college degree one of the most lucrative investments a person
can make, Baum notes.
Better yet,
college graduates can go on to earn advanced degrees, which return even bigger
payoffs. The average holder of a bachelor's degree earns about51,000 a year,
Baum calculates. But those who've gone on to earn MBAs, law degrees, or other
professional degrees earn about 100,000 a year.
In addition,
Baum found that there are plenty of other rewards for a degree. The quality of
the jobs college graduates get is far better, for example. College graduates
are more likely to get jobs with health insurance. And it is easier for them to
find and hold jobs. The unemployment rate for college graduates was just 2.2
percent last year, half the unemployment level of those with only high school
diplomas.
There are lots of other nonmonetary
benefits as well. College graduates are healthier, contribute more to their
communities, and raise kids who are better prepared academically, studies show.
Other researchers have found that the
payoff of a degree is especially lucrative for students from low-income
families, since the education and degrees give them a chance to break out of
low-paying careers.
1.What
can be inferred from Para 1 ?
A. The payoff of a college degree is
still big enough to match the advertised.
B. It’s more and more difficult to get a
college degree.
C. The return of a college degree is less
than often quoted.
D. A college degree is worth about one
million dollars.
2.Which
of the following is closest in meaning to the underlined word “l(fā)ucrative” in
Para.5?
A. attractive B.
worthless C.
approachable D.
balanced
3.How
can a college graduate increase his or her yearly income according to the passage?
A. By getting jobs with health insurance
immediately.
B. By going on for higher degrees.
C. By breaking out of low-paying jobs.
D. By contributing more to his or her
community.
4.Which
of the following statements can be learned from the text ?
A. According to Baum's
research, high school graduates earn more than those who have college degrees.
B. College education is
enough to ensure you a good life.
C. Nonmonetary benefits from
the degree attract students more than monetary ones.
D. Students from low-income families still
think degrees are profitable to change their life.
