Rate of Return at Record Levels for a College DegreeMay 23, 2013 | by Brendan Cosgrove
CHICAGO --- Northwestern University President Morton Schapiro once again this week took his passion for higher education to the airwaves in an appearance on WBBM-AM (780) --making the case that a college degree remains one of the best investments that can be made.
“There are certainly people with college degrees who are having trouble in the labor market, but if you look at the comparison to people without any college education at all, it is so much worse,” he said. “The rate of return is how you do with some college or a college degree versus none. And that is at record levels.”
President Schapiro, one of the nation’s foremost experts on the economics of higher education, appeared on WBBM’s highly-rated “Noon Business Hour,” hosted by Kris Kridel and Sherman Kaplan.
Schapiro went on to highlight the University’s commitment to making a Northwestern education affordable to any qualified student regardless of income or ability to pay. He noted that Northwestern is one of only around 40 non-profit colleges left in the United States with a need-blind admissions policy.
“We spent about $120 million this year in discounts off the ‘sticker price’ for need-based aid,” he said.