Whether college is worth what it costs is reviewed in this summarization of the author's book, "Investment in Learning." A survey of the literature leads to the following four conclusions. (1) that the economic returns of higher education, in the form of higher earnings, improved technology, and a higher gross national product, alone offset the…

Excerpts from a recent landmark study of American higher education focus on goals of higher education, cognitive outcomes of college and impact on practical competence, and some conclusions about consequences of higher education. It is shown that in both monetary, but especially in nonmonetary terms, higher education is well worth the cost. (AF)

Are our colleges and universities worth what they cost? For generations the American people have thought so. Recently, however, the public has become more skeptical toward higher education and other social institutions. Current knowledge of the consequences of higher education is substantial and is found in a vast literature derived mainly from…