
by James A. Bacon
Wonder why young Americans are souring on the higher-ed value proposition? The Old Dominion University Strome College of Business’s “2024 State of the Commonwealth Report” supplies data that provides the answer.
Ten years after leaving high school, one in five bachelor’s degree recipients earned less than the median income of high school graduates here in Virginia.
The aggregate numbers hide a lot of variability between institutions, degree programs, and students’ socioeconomic background, the report cautions. But the bottom line is clear.
“Substantial proportions of college graduates end up earning less than the members of their high school graduating classes who did not attend college,” states the report in its chapter entitled, “Does It Still Pay to Attend College in Virginia?”
Even at the University of Virginia, the state’s flagship university with arguably the most selective admissions standards, nearly one in twelve graduates earned less than the median income for Virginia high school grads.

Worse yet at the opposite end of the spectrum, at the Virginia University of Lynchburg only 47.9% of graduates earned the high school average. By that measure, a majority of VUL grads were worse off than if they’d just entered the workforce after graduating high school! (The report did not examine for-profit colleges where the comparative earnings numbers for most institutions are even worse.)
Correction: In the paragraph above, I had mistakenly referred to the University of Lynchburg, a different institution than the Virginia University of Lynchburg.
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