“Students pay much more for a college education in the U.S. than they do in most other countries. But they also get a bigger return on their investment.” That’s the claim of a recent OECD study.
A quick thought about this data: the major costs associated with higher education provision relate to labour. These are bound to be higher in a country where wages and salaries are relatively high. So of course, higher education is going to be more expensive in a rich country than a poor one.
Similarly, the extra income students gain from education is also going to be greater in a country where the baseline of wages for unskilled workers is already pretty high. A more useful metric would be to compare the ratio of university graduate incomes and high school graduate incomes in different countries.
Read more here.
The Past Speaks 
Leave a comment