With the ongoing recession (or depression if you’re a realist or a pessimist), people are questioning whether or not college is worth the cost. Michael Crow, the president of Arizona State University, believes it is.

In an interview with CNN, Crow told the interviewer his stance and backed it up with facts.

When asked, “Does college still pay off?" he said, “Our calculations and those of economists say the return on investment for a college education, in terms of additional earnings, is about 12% per year over your lifetime. The answer is unequivocally yes.”

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