Why a B.A. isn't B.S.

Let's agree right now that a four-year degree isn't everyone's ticket to the good life.

You know people who have gone far and accomplished much without that piece of parchment. And as cnn.com documented recently with the stories of seven undergrads with back-breaking school loans that they cannot pay off, there are cases where perhaps some people would have actually been better off without college.

But we think these are the exceptions, rather than the rules. And we've got some interesting research to back it up.

According to an article in The New York Times of June 26, a Washington-based research group called The Hamilton Project compares college with other investments. It found that in recent decades, college tuition has returned 15 percent annually when adjusted for inflation. By comparison, stocks historically return 7 percent and real estate about 1 percent a year.

There's more.

Another study out of Georgetown University illustrates the very positive effect a bachelor's degree can have on occupations you might not associate with the need for one. Here's a sampling:

Dishwasher: Nationally, the median salary for a high school graduate with no college is $19,000. With a four-year degree the median salary for a dishwasher is $34,000.

Hairdresser: $19,000 median salary for no college and $32,000 with a four-year degree.

Cashier: $19,000 and $29,000.

Child care worker: $10,000 and $18,000.

Dental Hygienist: $30,000 and $53,000.

Even wait staff with four-year degrees have higher median salaries - $25,000 vs. $19,000 with no college.

Plumbers with no college earn an average of $37,000; with that degree the median salary soars to $52,000. Firefighters are $53,000 and $66,000; Social workers $28,000 and $38,000; teacher assistants $18,000 and $22,000.

Three decades ago, the article by David Leonhardt says, full-time workers with a four-year degree earned 40 percent more than those with merely a high school diploma. Last year that gap had expanded to 83 percent.

We agree that college isn't for everybody, especially for young people who aren't ready for its academic rigors or social responsibilities. And the idea that someone would borrow many tens of thousands of dollars for a degree with poor job prospects tells us more about the individual than the institution.

But we also agree that one of the intrinsic advantages of going to college is aiming high in life. Sadly, those who aim low generally hit their target.