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Show OGDEN CITY PUBLIC SCHOOLS Part-Time Department F. T. Wiggins, Principal W. Karl Hopkins Superintendent THE VALUE OF EDUCATION The cash value of a college education to its possessor is $72,000, according to a report made public Friday by Dean Everett W. Lord of the Boston University college of business administration. The report is based on a long study of the earning capacity of college graduates. The cash value of a high school education is placed by the report at $33,000. The report gives the average maximum income of the untrained man as $1,200; that of the high school graduate as $2,200, and of the college graduate as $6,000. The total earnings of each of the three types, up to the age of 60, are placed at $45,000, $78,000 and $150,000 respectively. Dean Lord in his computation estimated also that while the untrained man at the age of 50 begins to drop toward dependence, the college man reaches his maximum earning capacity at 60. "The untrained man goes to work as a boy of 14 and reaches his maximum income at the age of 30," the report said. "This maximum is, on the average, less than $1,200 a year." In view of the fact that this income is earned through manual labor dependent on physical strength, it begins to fall off at the age of 50 or even earlier and soon reaches a level below self support. The figures show that more than 60 out of every 100 untrained workers are dependent upon others for support at the ago of 60. The total earnings for the untrained man from 14 to 60 are about $45,000. Between the ages of 14 and 18 the four years which might have been spent in high school, the young man usually earns not more than $2,000. "The high school graduate goes to work at 18 having lost the opportunity to earn $2,000 which the untrained man earns during this period. However, starting at 18 the high school graduate passes the maximum income of the untrained man in seven years, rises steadily to his own maximum of $3,200 at 40 and continues at that level for the rest of his life. He averages a total earning of $78,000 from 18 to 60. The $33,000 excess over the life earnings of the untrained man represents the cash value of a four-year high school course. "Now, consider the college or technical school graduate, his permanent earnings begin at 22 although a considerable amount may have been earned during the college course. By the time he is 26 his income equals that of the high school graduate at 40 and it continues to rise practically without a break. Since his income is dependent upon his mental ability and training constantly improves by practice, it increased instead of diminished with the years. The college or technical school graduates average income of $6,000 at 60 years is often surpassed. "His total earnings from 22 to 60, not including anything earned during the college period, are $150,000. The $72,000 more than is earned by the high school graduate represents the cash value of college of technical school traning." |
