President Jones, members of the faculty, assorted notables, proud parents and financially indebted graduates. I come before you on this auspicious day to say something about the degree you have just been awarded. You have been told it is not worth the papyrus it is printed on. I am here to tell you it is worth a fortune.

In preparing for this commencement speech, I assembled a file of newspaper stories about the cost of college, the burden of student debt and how much you can expect to earn in your first year after graduation — assuming, of course, that you can even find a job. The numbers are daunting. Unless you are graduating from one of those name-brand elite institutions — Harvard, Yale, etc. — you’re probably not going to make much your first year out. In fact, we now have many examples ofcommunity college graduates earning more than those with bachelor’s degrees. In Virginia, the difference can be $20,000 a year.