Mark Kralj

A recent guest column titled, “Re-evaluating the value proposition of college in a post COVID-19 world,” questioned the value of a college degree. It pointed to the increasing cost of college tuition and opportunities that might come from the temporary nationwide pivot to virtual teaching brought about by the pandemic.

However, the writer’s conclusion that a college degree isn’t worth the investment is not valid. In fact, according to the Center on Education and Workforce at Georgetown University and in spite of tuition costs, the opposite is true: a college degree pays off. Moreover, solving complex challenges — like the COVID-19 pandemic — requires people with a deep understanding in their fields.

I volunteer in public higher education, having served on the board of the Oregon State University Foundation and currently on the board for OSU-Cascades. I’ve witnessed firsthand what a college degree allows individuals to achieve financially, personally and professionally. What I’ve learned is this:

An individual with a bachelor’s degree earns 61% more than someone with a high school diploma. In 2018, median annual earnings for a high school graduate 25 or older were $40,500 according to CollegeBoard. The addition of a bachelor’s degree pushed earnings up to $65,400. Over a lifetime, that’s significant. College graduates are also more likely to have and keep their jobs, and less likely to be laid off. This means their families can be more financially secure. Secure families create stable communities, something we all benefit from.

College tuition is a good investment. A college education, particularly at a public institution, is one of the soundest investments you can make. The Brookings Institution has estimated the return to be as much as 15.2% annually — far more than the stock market over the long term. Due to current economic conditions, federal undergraduate student loan interest rates have hit a historic low of 2.75% for the 2020-21 academic year, making the investment even sounder.

College can be affordable. Thanks in part to donors — including many central Oregonians — more than 70% of OSU students in Bend and Corvallis receive financial aid. Their median loan debt upon graduation is $25,685. In monthly payments, that’s about half of a typical payment for a new Toyota Camry. It’s sizable, but a manageable responsibility for a college graduate.

Face-to-face college classes are needed. Universities converted to remote instruction in days when the pandemic hit. Students fared well overall, but we can’t deny the proven learning that comes from in-person interactions with classmates, professors and researchers. There are wonderful online degree programs, including OSU’s top-rated program, but for many students the classroom is key to successful learning.

Most jobs in the U.S. economy require higher education. In our grandparents’ economy, well-paying jobs were readily available to high school graduates. Over the last decade though, projections of jobs and education requirements have pointed to as many as 65% of occupations requiring a degree, or at least some college education. Today’s jobs require a high degree of skill and decision-making ability that can only be instilled through the intense training found at colleges and universities. Furthermore, the fastest-growing occupations — STEM, health care professional and community services — have the highest demand for postsecondary education.

Our challenges need skilled leaders. If 2020 has taught us anything, it’s that the problems we face — from COVID-19 to mega forest fires to establishing racial equity — are complex. We need leaders from upcoming generations who are skilled communicators, can analyze information and administrate through chaos. They need to understand big data, government, global competitiveness, public health, design and engineering innovation, markets, societal behavior, history and how these forces work together.

A college degree isn’t for everyone. There are other viable options to achieve success including community college, trade school, military service and even the school of hard knocks. But for those who pursue a college education, the payoff is still real and the benefits to society are huge.

Do you have a point you’d like to make or an issue you feel strongly about? Submit a letter to the editor or a guest column.