Measuring Education

Measuring Education - Measuring Education In Sociology we...

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Measuring Education In Sociology we measure two distinct types of educational accomplishments: Educational Attainment is the number of years of school completed and Educational Achievement refers to how much the student has learned in terms of reading, writing, and arithmetic. Look at Table 1 to see how attainment typically correlates with degrees. Table 1: Years of Schooling and Typical Degrees Associated with Them Years Typical Degree <12 Drop out 12 High School 13 Vocational Certificate 14 Associates 16 Bachelor’s 18 Masters 20 Doctorate (Ph.D.; Ed.D. ; JD,; or MD) 21+ Specialization or Post-doctoral education *Extracted from Jason Amos, (August 2008) Dropouts, Diplomas, and Dollars: US High Schools and the Nation’s Economy taken from Internet on 24 March 2009 from All4edu funded by Bill and Malinda gates Foundation. Table 2 also shows the levels of income typically associated with these typical degrees. The difference between high school dropouts and graduates is about $8,100/year more for graduates or on a 35-year career in the labor force at least $283,500 more money earned by graduates. What would a 4-year Bachelor’s degree add per year? $19,400 per year for Bachelor’s grads compared to high school grads or $679,000 in 35 years of career work. A 4-year degree is financially well worth it. Table 2: Degrees and Median Incomes Associated with Them* Degrees Median Yearly Incomes Drop out $ 23,400 High School $ 31,500 Vocational Certificate $ 37,100 Associates $ 40,000 Bachelor’s $ 50,900 Masters $ 61,300 Doctorate (Ph.D.; Ed.D. ; JD,; or MD) $ 79,400 Specialization or Post-doctoral education $100,000+ *Extracted from Baum and May (2007) Figure 1.1 Median Earnings and Tax Payments of Full- time Year-Round Workers Ages 25 and Older by education Level, 2005 When students ask me how I feel about taking out student loans I explain the following to them. If you choose to go to college and forfeit full-time wages to become a full-time student you will lose about $126,000 of lost wages while in college. Plus it might cost you another $25,000 in student loans or expenses. So you could conclude that it cost you about $151,000 to earn a 4-year degree. Subtract that $151,000 from the extra $697,000 and you end up a $546,000 net increase in career earnings even accounting for missed wages and student loan expenses. So going to college pays, but how does dropping out of high school affect individuals and society?
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The worst possible scenario in terms of work and lifestyle is to drop out of high school. And millions drop out each year in the US. Table 3 shows the dropout rates by racial classification for
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Measuring Education - Measuring Education In Sociology we...

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