二、

　　There are few more sobering online activities than entering data into college-tuition calculators and gasping as the Web spits back a six-figure sum.

　　在大學學費計算器里輸入數據，然后對著網絡吐出來的六位數倒抽一口氣，很少有其他在線活動比這種活動更讓人清醒了。

　　But economists say families about to go into debt to fund four years of partying, as well as studying, can console themselves with the knowledge that college is an investment that, unlike many bank stocks, should yield huge dividends.

　　但是經濟學家們認為，打算舉債資助四年聚會和學習的家庭可以這樣安慰自己：大學是不同于很多銀行股票的投資，它應該產生巨額的紅利。

　　A 2008 study by two Harvard economists notes that the labor-market premium to skillor the amount college graduates earned thats greater than what high-school graduate earneddecreased for much of the 20th century, but has come back with a vengeance since the 1980s.

　　兩位哈佛經濟學家在2008年進行的一項研究發現勞動力市場對及恩那個的溢價現象----換種說法就是大學畢業生的收入高于高中畢業生----在20世紀大部分的時間都有所下降，但是自從20世紀80年代出現了報復性的增長。

　　In 2005, The typical full-time year-round U.S. worker with a four-year college degree earned $50,900, 62% more than the $31,500 earned by a worker with only a high-school diploma.

　　在2005年，典型的擁有四年大學學位的全職美國工人平均收入為50900美元，比高中文憑的工人的平均收入31500美元多了62%。

　　Theres no question that going to college is a smart economic choice. But a look at the strange variations in tuition reveals that the choice about which college to attend doesnt come down merely to dollars and cents.

　　毫無疑問，上大學從經濟上來說是明智的選擇。但是學費奇怪的變化說明，選擇上哪種大學并不只是金錢的問題。

　　Does going to Columbia University yield a 40% greater return than attending the University of Colorado at Boulder as an out-of-state student ?

　　上哥倫比亞大學(學費，食宿費在2007年--2008年達到了49260美元)比起非當地學生報讀科羅拉多大學博德爾分銷(費用為35542美元)的回報率高40%嗎?

　　Probably not. Does being an out-of-state student at the University of Colorado at Boulder yield twice the amount of income as being an in-state student there? Not likely.

　　不太可能。一名報讀科羅拉多大學博德爾分校的非當地學生的收入會是當地學生(費用為17380美元的兩倍嗎?不太可能。

　　No, in this consumerist age, most buyers arent evaluating college as an investment, but rather as a consumer productlike a car or clothes or a house. And with such purchases, price is only one of many crucial factors to consider.

　　不，在消費主義的時代，大部分的買家不會把大學看做一種投資，而是一種消費品----就像汽車、衣服或住房一樣。購買這些商品，價格僅是需要考慮的很多關鍵因素中的一個。

　　As with automobiles, consumers in todays college marketplace have vast choices, and people search for the one that gives them the most comfort and satisfaction in line with their budgets.

　　正如汽車一樣，在今天的大學市場，消費者有很多選擇，人們在尋找復合預算條件的最舒適和滿意的學校。

　　This accounts for the willingness of people to pay more for different types of experiences .

　　這解釋了為什么人們愿意為不同的體驗付出更高的費用(例如報讀私立學校的文學院或者報讀一家有很好的海洋生物學課程的外州公立大學)。

　　And just as two auto purchasers might spend an equal amount of money on very different cars, college students often show a willingness to pay essentially the same price for vastly different products.

　　正如兩名購車人會為完全不同的汽車付同樣的價錢一樣，大學生(或者更準確地說，他們的父母)經常愿意為完全不同的產品支付差不多的價錢。

　　So which is it? Is college an investment product like a stock or a consumer product like a car?

　　那這是哪一種?究竟大學是像股票一樣的投資產品還是像汽車一樣的消費品?

　　In keeping with the automotive worlds hottest consumer trend, maybe its best to characterize it as a hybrid ; an expensive consumer product that, over time, will pay rich dividends.

　　為了追上汽車最炙手可熱的消費者趨勢，或許最好是把大學看做混合動力汽車;一種消費品，但隨著時間的流逝，會帶來豐厚的回報。

　　二、

　　There are few more sobering online activities than entering data into college-tuition calculators and gasping as the Web spits back a six-figure sum.

　　在大學學費計算器里輸入數據，然后對著網絡吐出來的六位數倒抽一口氣，很少有其他在線活動比這種活動更讓人清醒了。

　　But economists say families about to go into debt to fund four years of partying, as well as studying, can console themselves with the knowledge that college is an investment that, unlike many bank stocks, should yield huge dividends.

　　但是經濟學家們認為，打算舉債資助四年聚會和學習的家庭可以這樣安慰自己：大學是不同于很多銀行股票的投資，它應該產生巨額的紅利。

　　A 2008 study by two Harvard economists notes that the labor-market premium to skillor the amount college graduates earned thats greater than what high-school graduate earneddecreased for much of the 20th century, but has come back with a vengeance since the 1980s.

　　兩位哈佛經濟學家在2008年進行的一項研究發現勞動力市場對及恩那個的溢價現象----換種說法就是大學畢業生的收入高于高中畢業生----在20世紀大部分的時間都有所下降，但是自從20世紀80年代出現了報復性的增長。

　　In 2005, The typical full-time year-round U.S. worker with a four-year college degree earned $50,900, 62% more than the $31,500 earned by a worker with only a high-school diploma.

　　在2005年，典型的擁有四年大學學位的全職美國工人平均收入為50900美元，比高中文憑的工人的平均收入31500美元多了62%。

　　Theres no question that going to college is a smart economic choice. But a look at the strange variations in tuition reveals that the choice about which college to attend doesnt come down merely to dollars and cents.

　　毫無疑問，上大學從經濟上來說是明智的選擇。但是學費奇怪的變化說明，選擇上哪種大學并不只是金錢的問題。

　　Does going to Columbia University yield a 40% greater return than attending the University of Colorado at Boulder as an out-of-state student ?

　　上哥倫比亞大學(學費，食宿費在2007年--2008年達到了49260美元)比起非當地學生報讀科羅拉多大學博德爾分銷(費用為35542美元)的回報率高40%嗎?

　　Probably not. Does being an out-of-state student at the University of Colorado at Boulder yield twice the amount of income as being an in-state student there? Not likely.

　　不太可能。一名報讀科羅拉多大學博德爾分校的非當地學生的收入會是當地學生(費用為17380美元的兩倍嗎?不太可能。

　　No, in this consumerist age, most buyers arent evaluating college as an investment, but rather as a consumer productlike a car or clothes or a house. And with such purchases, price is only one of many crucial factors to consider.

　　不，在消費主義的時代，大部分的買家不會把大學看做一種投資，而是一種消費品----就像汽車、衣服或住房一樣。購買這些商品，價格僅是需要考慮的很多關鍵因素中的一個。

　　As with automobiles, consumers in todays college marketplace have vast choices, and people search for the one that gives them the most comfort and satisfaction in line with their budgets.

　　正如汽車一樣，在今天的大學市場，消費者有很多選擇，人們在尋找復合預算條件的最舒適和滿意的學校。

　　This accounts for the willingness of people to pay more for different types of experiences .

　　這解釋了為什么人們愿意為不同的體驗付出更高的費用(例如報讀私立學校的文學院或者報讀一家有很好的海洋生物學課程的外州公立大學)。

　　And just as two auto purchasers might spend an equal amount of money on very different cars, college students often show a willingness to pay essentially the same price for vastly different products.

　　正如兩名購車人會為完全不同的汽車付同樣的價錢一樣，大學生(或者更準確地說，他們的父母)經常愿意為完全不同的產品支付差不多的價錢。

　　So which is it? Is college an investment product like a stock or a consumer product like a car?

　　那這是哪一種?究竟大學是像股票一樣的投資產品還是像汽車一樣的消費品?

　　In keeping with the automotive worlds hottest consumer trend, maybe its best to characterize it as a hybrid ; an expensive consumer product that, over time, will pay rich dividends.

　　為了追上汽車最炙手可熱的消費者趨勢，或許最好是把大學看做混合動力汽車;一種消費品，但隨著時間的流逝，會帶來豐厚的回報。