Yet the new research is a reminder that the country also underinvests in enrolling students in four-year colleges — and making sure they graduate. Millions of people with the ability to earn a bachelor’s degree are not doing so, and many would benefit greatly from it.
The unemployment rate among college graduates ages 25 to 34 is just 2 percent, even with the many stories you hear about out-of-work college graduates. They’re not generally working in menial jobs, either. The pay gap between college graduates and everyone else is near a record high. It’s large enough, over a lifetime, to cover many times over the almost $20,000 in student debt that an average graduate has, notes the education researcher Sandy Baum. College graduates are also healthier, happier, more likely to remain married, more likely to be engaged parents and more likely to vote, research has found.