The College for All interpretation is that the diminishing payoff to the bachelor’s degree means students need to get more degrees, specifically master’s degrees. Historically, a bachelor’s degree was a powerful and reliable signaling device, telling employers that the college-educated individual was almost certainly smarter, more knowledgeable, disciplined, and ambitious, and harder working than the average American.
But now that one-third of adult Americans have bachelor’s degrees, some college graduates have pretty ordinary levels of intelligence and the other positive attributes that employers like.
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