According to the Bureau of Labor Statistics, approximately 3.0 million youths graduated from high school between October 2006 and October 2007.  There are many options available to them. The most obvious options are the following:

• Work
• Attend a Vocational or Trade Program
• Earn a 2-year Degree at a Community College
• Attend a 4-year College or University
• Enlist in the U.S. Military

From the nearly 3.0 million youths who graduated from high school, about 2.0 million (67.2 percent) were attending college in October 2007.

Today, the escalating cost of higher education is causing many to question the value of continuing education beyond high school.  Many question the high cost of tuition, the opportunity cost of choosing college over full-time employment, and the accumulation of thousands of dollars of debt is, in the long run, worth the investment.  The risk is especially large for low-income families who have a difficult time making ends meet without the additional burden of college tuition and fees.

In order to determine whether higher education is worth the investment, it is useful to examine what is known about the value of higher education and the rates of return on investment to both the individual and to society.

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