Is higher education worth it?

Will a college education produce the same benefit in the future as it did in the past? Probably not.

It is commonly assumed that a college degree will boost your lifetime earnings but this belief is a mistake.

They assume that the current generation is going to get the same financial benefit from college that people did who graduated 40 years ago.
But things are different today. According to the Bureau of Labor Statistics, nearly 70% of all high school graduates go on to college — compared with 45% in 1960.
Then, only the brightest and best-prepared students attended college and the schools offered academically rigorous courses that prepared students for the future.
Now even middling high-schoolers attend college — and often learn very little. Then they enter a job market where a bachelor's degree is relatively common — and must compete against many others for the same jobs.

I've always heard that in the future a bachelor's degree will be as common as a high school diploma once was, and now we're at that point.