What’s Wrong with “College for All”

Instapundit links to a good New York Post article by economist Bryan Caplan, who takes as his thesis “the 5 worst things about colleges in America.” Here are his five headings:

1. A majority of college students don’t finish on time - and a large minority don’t finish at all.
2. Most of the curriculum is neither socially useful nor personally enjoyable.
3. The “hidden benefits” of college are mostly wishful thinking.\
4. The more education our society has, the more every worker needs to get a job.
5. Thanks to heavy government subsidies and “locked-in syndrome,” our dysfunctional system is built to last.

I have no argument with nos. 1, 2, 4, and 5. No. 3 is accurate as Caplan writes it. However he overlooks a major hidden benefit of college in finding a smart, achievement-oriented spouse.

“Assortative mating” is what it’s called - smart, achieving people marrying other smart, achieving people and having children likely to be smart and achieving. College is a better venue for upscale spouse “shopping” than a bar or gym.

Caplan’s best advice is this:

College major is also a reliable predictor of student success. Degrees in engineering, computer science, finance and economics all pay well, boosting earnings by 60 to 70 percent. Degrees in fine arts, education, English, history and sociology do about half that.

If you struggled through high school, college is a bad bet compared to an entry-level job. You’re better off saving your money and gaining real-world work experience. The same goes for low-paid majors. Unless you’re already made of money, either find a more promising major or don’t go to college.

These are points we’ve noted repeatedly over the years at COTTonLINE.