Access to graduate education is an invaluable resource for this generation of Americans. For the “public good” of the nation, the U.S. government must allocate more in the way of financial support and public policy to ensure that students have access to and experience success in some form of graduate studies, a new study reports.
Most scholars agree with Salem State College President Patricia Meservey’s current assessment of the American educational system and future job market. “In the world that looms before us, a bachelor’s degree alone will no longer suffice. More jobs than ever will require both advanced degrees and advanced credentials.”
“A strong link exists between U.S. graduate education, the production of knowledge and economic and social prosperity,” said Rep. Lois Capps, D-Calif., during press briefing Thursday in Washington on the societal benefits of graduate education.
Reading the opening lines of a report released by Council of Graduate Schools, Capps said, “The United States needs a cadre of high-skilled leaders and experts in a variety of fields to address current and future challenges.”
In a 20-page report titled “Graduate Education and the Public Good” researchers at the Council of Graduate Schools illuminated the obvious and obscure benefits of a graduate education for the nation, as opposed to a single individual.
It is common knowledge: the more education one has, the more one earns. On average, adults with advanced degrees earn about 44 percent more than those with bachelor’s degrees, the U.S. Census Bureau reported.
The federal government benefits in many ways from having a highly educated population that garners high wages: increased tax revenue, greater productivity, increased work force flexibility and decreased reliance on government and financial assistance.
