Earlier quoted context omitted.
> 90% of the value of a 4 year degree (at this point) is the credential. Why do you say that, and how do you measure value? I have quite a few lifelong friends from undergrad, people I wouldn't have met or bonded with if I'd done school online. And it's not necessary to know people to get great jobs, but I feel like it helps; 4 of the 6 jobs I've had came about through my undergrad network. One of them, as a founder,…
Do you work in academia now? If so, yes, the story is wildly different for your case. > I've never needed the credential for anything but passing the checklist of requirements for my first job That's a pretty crucial piece of value! For people who don't come from wealthy families, that entry into the college-educated workforce is often the difference between poverty and not-poverty. The networking angle is an interes…
Nope.
Yes, there is value of being able to get the first job. Though the value isn't really quantifiable, and it changes over time. Plus the first job typically has other requirements besides a degree, all of which are valuable for the purposes of not getting rejected before an interview. I was just curious where "90%" comes from. (I'm comfortable with it being symbolic, representing your feeling that it's a majority. I just wanted to tease that out and clarify.)
To your original point, for better or worse, incomes and lifetime earnings are statistically higher for college grads. I didn't realize the difference was as high as it is, but the Fed recently published that in the U.S., incomes are roughly double for bachelor's degrees over non-graduates, and roughly triple for advanced degrees. That means that there is a large financial value wrapped up in getting the degree, one way or another. It might have a lot to do with networking, and it might have a lot to do with the credential and social signaling. I'm certain there's some of both. But this value is definitely a must to know about before deciding to forego a degree, and probably a very good thing to keep in mind before choosing an online program over an in-person one.