A Guide to the Most Important Financial Decision You'll Ever Make
August 31, 2015
Cappelli tackles a question on the minds of many parents and students: what is the value of a college education in the 21st century? His book dutifully explores a variety of complex issues that probe the nature of higher education and its contributions to the individual, while simultaneously weighing the more practical payoffs and pitfalls of secondary schooling in the United States. Voice actor Perkins reads with a deep, slightly nasal voice as he makes his way through Cappelli’s many different arguments and considerations, using pacing and emphasis to drive home points. The audio book gets a bit monotonous during the longer passages, when Perkins loses his momentum. But these moments are far and few in contrast to how often he keeps listeners’ ears attuned. A PublicAffairs hardcover.
April 15, 2015
A workforce and education expert weighs the perks and pitfalls of higher education.Cappelli (Management/Wharton School; Why Good People Can't Get Jobs: The Skills Gap and What Companies Can Do About It, 2012, etc.) astutely examines the enduring relevance of a college degree despite problematic funding and postgraduate employment issues. In dense chapters full of illuminating statistical and survey data, the author reports on the affordability and effectiveness of a college degree, directing his assessment to benefit future students and their families. As he notes, astronomical tuitions figure greatly into the equation, as American college costs run about four times higher than in other countries, making the decision to attend a postsecondary school an increasingly risky one. Cappelli also examines the variation in degreed students who fail to achieve success in the postgraduate employment marketplace and those who become overwhelmed by the financial burden. The factors affecting these trends are in constant flux, writes the author, and vary from the labor market requiring functional job skills to the student dropout rate and the education-to-career paths that have evolved as rapidly as their corresponding business models and sophisticated hiring processes. Cappelli's eye-opening report card on the current state of American education gives mounting tuitions a failing grade, though enrollment and retention numbers are promising. The author's drilled-down conclusions suggest that students are matriculating at the same level today as they did years ago, but the expense alone has thrown many families into the depths of student loan debt or default. Whether or not investing in college is worth the risk is a major decision about which families and children need to educate themselves. "College is still accepted as necessary for advancement but also increasingly expensive," writes the author, "and increasingly risky in terms of the likely career payoffs." Salient reading for students, parents, and educators on navigating toward a coveted college degree.
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May 15, 2015
Cappelli (George W. Taylor Professor of Management, the Wharton Sch., Univ. of Pennsylvania; Why Good People Can't Get Jobs) tackles the titular question in this well-researched response. He considers the query with facts, figures, and ways of thinking that give families the context and tools to make an informed decision. The author lauds the benefits of a college education for the individual and society. However, the price of going to college has dramatically increased. Those additional costs are being paid with loans against retirements and student's future earnings. Concurrently, employers are less willing to train new hires, advertising for specific job skills and prior experience. In response, four-year universities, community colleges, and the newer for-profit institutions market programs they insist will prepare students for the real world and specifically a job. Cappelli's well-reasoned and documented answer helps families evaluate their options in terms of their individual financial situation. VERDICT Academic and yet highly readable, Cappelli's book provides nothing short of consumer protection to families and their students as he addresses the complexities of the higher education marketplace, the unpredictable job market, and the cost of college.--Jane Scott, Clark Lib., Univ. of Portland, OR
Copyright 2015 Library Journal, LLC Used with permission.
May 15, 2015
As the cost of attending college escalates, and fewer graduates seem to be able to find jobs that pay enough to repay student loans, more families are wondering about the return on their investment. Business professor Cappelli examines the risks behind the most important financial decision that families will make. Along the way, he examines the movement to put more focus on vocational training, noting that this strategy may not prepare students for future changes in the job market or provide them with meaningful education. He also debunks several myths, including the contention that there has been a shortfall of graduates in technology and the notion that jobs require more education today than in the past. He also looks at basic economics of supply and demand and the wage gap between college-educated workers and those without degrees. Answering the question of whether the cost of college is worth it, he concludes, has less to do with majors and more to do with whether the student graduates and how long it takes to get the degree. A valuable, commonsensical analysis of an ever-more-important subject.(Reprinted with permission of Booklist, copyright 2015, American Library Association.)