I graduated from college in 1973. That was the era of the Arab oil embargo, runaway inflation and the resignation of Richard Nixon. President Nixon had just recently enacted federal wage and price controls and President Ford would soon come along with his WIN buttons. (Whip Inflation Now) The country was on the verge of a long recession that would last 7 years. Sound familiar.
Many college graduates in the 70’s had to wait before capitalizing on the value of their diplomas. What about now? There are similarities and differences. For one, even adjusting for inflation, I don’t believe the real cost of college in the 70’s approaches the sticker price of the same today. Nevertheless, whether or not it is worth the money is without a doubt one of the most important decisions a person and a family will make. Here are two resources that can give some depth to the discussion, and hopefully some light. Enjoy.
Focusing Too Narrowly In College Could Backfire (The Wall Street Journal)