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Are All Degrees a Smart Investment?

August 5, 2013

Which post-secondary fields of study give students the most
for their money? Are some degrees worth more than others? During a time in
which nearly 20 million Americans pursue a post-secondary degree each year, most
of whom borrow annually to help cover costs, parents and students alike begin
to ask the critical question, “What is it all worth?” Particularly, as teacher
candidates deal with rising student debt and diminishing educational returns, we
are reminded yet again of the urgency of teacher preparation program reform.

A recent study using administrative data from Chile found
that while the most selective degrees cost 2.4 times that of the least
selective degrees, expected annual earnings gains are approximately 10 times as
high. This study’s findings reaffirm
that the first step to improving teacher preparation programs involves increasing selectivity
and providing high-quality clinical experiences, two central ideas in NCTQ’s recent Teacher Prep Review

If we incorporate more rigorous testing and standards, we can ensure that our teaching force is equipped with
the knowledge, skills, and experiences to be content experts and effective
instructors. More importantly, by allowing teachers to develop the specialized
knowledge that many of their counterparts in medicine and law must possess
before they can practice, we are acknowledging the technical skill and
professionalism required of a teacher.

While all degrees may not yield the same return in
earnings, we can work to ensure that post-secondary teaching degrees are a
sensible investment. If we are going to require that prospective teachers
attend these teacher certification programs, let’s make sure they get an
educational return on their investment.