Is College Education Worth the Cost to Millennials?

books on a bookshelf

In addition to her duties as program chair for the MBA degree program in the Forbes School of Business & Technology™, Dr. Diane Hamilton hosts the nationally syndicated radio show “Take the Lead,” where she calls upon highly successful individuals to chat about achieving success in all levels of business. Dr. Hamilton often discusses the hot-button topic of the role of education in business, particularly as it relates to the future. Here, she responds to the oft-asked and well-circulated question and recent article by Janet Nguyen and David Brancaccio.

Is College Education Worth the Cost to Millennials?

People often ask me about what I foresee for the future of education. Millennials (Gen Y) and Gen Z have embraced technology in a new way. Younger generations have a higher expectation of what they hope to get out of their education. I believe that is a good thing. It puts educators on their toes to ensure that they provide quality, relevant content. I would argue that the value of a college education is based on the worth assigned to it by employers. As long as the people doing the hiring value a traditional college education, it is important to meet those requirements. That is not to say that a traditional college education will always be the standard by which companies judge applicants.

I believe knowledge is the most important thing.

I believe as Boomers retire and millennials gain more power, we will start to see a shift in the way people become educated. Perhaps we will see courses offered separately or testing to demonstrate knowledge instead of producing a diploma, etc. Whether it is most valued as a degree or in some other format, I believe knowledge is the most important thing. Some of what I value in going through the degree-obtaining process includes learning critical thinking, soft skills, humanities, and other things that may be hard to improve without the formality of a degree program.

As we become an à la carte society, some of the glue that holds the overall education together might get overlooked, and that glue is a big part of what I believe makes someone successful.

 

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Compiled by Kelsey Bober, Content Manager for Bridgepoint Education.

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