Will history confirm that current education is an engine of economic success?

According to the article “Neoliberalism and the crisis of higher education,” it says that history has confirmed that education is an engine of economic success. When I first read it, I thought to myself: History has proven that education is the engine of economic growth, but isn’t this engine a little expensive and inefficient today?

As an international student at NC State, the average tuition fee is about $35,000 per year. If you add up the dormitory and living expenses, it is over $50,000. Not only because I am an international student, but this also applies to American students whose tuition is relatively cheap.
According to one study, the amount of student finances has increased dramatically in recent years. This is the result of rising tuition fees and rising prices at universities. The consequences of this increase are by no means small.

First, as the amount of money to be paid for school increases, the amount of money that can be used in daily life is limited. Naturally, the quality of life is lowered and students’ stress increases, which negatively affects their mental health. Currently, I am also under stress due to these problems. But there is another big problem with this.

Despite the increase in tuition fees over the past few years, the number of people who have earned degrees has also increased. According to a survey of people 25 years of age or older who graduated from high school, about 10% of people earned a degree in the 1970s, but about 30% of people earned a degree in 2015. Looking at the people around me right now, the proportion of people who have graduated from college is overwhelmingly high. He invested a large amount of money and effort to earn a degree, but it would not have much distinguishing power.

But if you don’t have enough money to graduate from college, it’s even more problematic. When many people graduate from college, if you can’t earn a degree, there would be a difference between you and them in negative aspects. It will be very difficult to find a job and living as a member of this society

I think of today’s education as an expensive, inefficient, but indispensable engine in a car. I think this applies to all but 10% of the top Americans now. If so, what was the root cause of the problem with this engine and what was the solution? Do you think education should be given to everyone, regardless of money?