Reeva Vaidya- Project 2 Final Draft by Reeva Vaidya

The Coin Flip

rv552 — 2025-02-22 18:16:28 UTC

In his argument, Tough describes a college education as a coin flip—essentially a gamble. Attending college is a huge financial investment, one that may or may not pay off. Tough explains how there is no guarantee that a college degree will allow you to obtain a well-paying job, but rather that it's a gamble that depends on many different factors. Most families have to face a large financial risk, especially with the steep prices of college in America. Numerous factors impact a person's chances in winning the "college bet". For example, the price of tuition. If tuition is free and you're certain that you'll graduate, there is a 96% chance that the gamble will pay off. The issue is that a lot of students who attend college don't graduate, which again lowers the chances of success. If tuition is higher than $50,000, the success rate drops to 50%. Furthermore, the major that a student chooses also impacts their chances of winning the bet.

5 Key Words

rv552 — 2025-02-22 18:17:31 UTC

Affluent – Wealthy, having an abundance of material goods or financial resources.
Generation Z – The demographic cohort following Millennials, typically born between the mid-to-late 1990s and early 2010s, known for growing up with digital technology and social media.
College Wage Premium – The additional earnings that individuals with a college degree typically earn compared to those without one.
College Wealth Premium – The additional wealth accumulated by individuals with a college degree compared to those without, due to factors such as higher earnings, better job opportunities, and financial benefits.
Ideology – A system of ideas, beliefs, or principles that shape a person’s or group’s worldview, often influencing political, economic, or social perspectives.

Paul Tough: Americans are losing faith in college? Whose fault is that?

rv552 — 2025-02-22 18:45:14 UTC

Increasing Costs of College

rv552 — 2025-02-22 18:52:11 UTC

Tough analyzes the rising cost of tuition in his argument. Compared to the world, America is a major outlier when it comes to tuition costs. At public universities in Canada and Japan, tuition is less than $5,000, and it's nearly zero in France, Denmark, and Germany. In contrast, U.S. public colleges have seen tuition double since 1992. The average price of a private college in America is $58,000, tremendously more expensive than in other countries. Since this is such a big investment, it seems less and less valuable to attend college. With such a steep price, people feel more discouraged to go to college than ever. If their investments don't pay off, they could be risking financial instability and debt. These burdens make college a risky investment for many American students.

Major Implications

rv552 — 2025-02-22 18:58:41 UTC

The major that a student chooses plays an important role in whether or not a student will win the "college bet". For example, Tough explains certain patterns based on economist Douglass Webber's studies. STEM and business majors have a higher chance of success after graduating. If you're not a STEM or business major, your chances of college paying off are higher. Arts and Humanities majors have a much lower financial return, often negative. A person's major determines their earning potential and employment opportunities.

College Enrollment

rv552 — 2025-02-22 19:02:17 UTC

In Tough's argument, he claims that Generation Z no longer feels as though a college degree necessarily guarantees them financial success and a steady job. He states that "45 percent of Generation Z respondents this year told pollsters that they believe that a high school diploma will be enough to ensure financial security" (Tough 14). Tough also talks about how in earlier years, the payoff of going to college seemed more worth it, but over time, Americans' attitudes began to change. In the 2010s, they were very positive towards it, with 74% of young adults considering college very important. This number has now dropped to 41%, and more parents prefer their kids not to attend a 4-year college. This shift in perceptions about college will continue to cause a gradual decrease in college enrollment in America.

Ideological Divide

rv552 — 2025-02-22 19:04:39 UTC

Tough argues that ideology plays a role in the decline in some Americans' faith in the value of going to college. The political divide in higher education very well might be impacting people's decisions to go to college more than we may think. Though both Republicans and Democrats used to have similar beliefs about college, by 2017, 58% of Republicans believed college had a negative impact on people. Conservatives might see colleges as being overly liberal and promoting conformation. Different attitudes toward higher education play a strong role in people's perceptions of the value of college.

Persistance of Privilege

rv552 — 2025-03-02 17:59:58 UTC

As Tough explains in his argument, college isn't completely a game of chance. Your chances of success also depend on who your parents are. Students who come from very rich families don't have to be worried about college being a risky financial investment. Those with social and financial advantages are more likely to be able to attend reputable Ivy League schools. Here, they'll have a much higher success rate than the majority of students attending less selective public universities. The majority of American college students are at much higher risk for debt. Students from rich families don't have to worry about this problem, automatically making their chances for payoff much greater. Tough also discusses how Ivy League graduates are three times more likely to be hired at prestigious firms and "60 percent more likely to earn a salary high enough to land them in the top 1 percent of earners" (Tough 13). The richest students are more likely to be admitted to elite schools, further perpetuating wealth disparities.