The posters above are correct, but young people should think hard before they go to college and earn grades on their research assignments. Here is a good essay answering the question if it's worth becoming a college student.
IntroductionSuccessful businessmen such as Mark Zuckerberg, Bill Gates, and Steve Jobs who were college dropouts are often used as the poster-children to justify dropping out of college or not attending college. Pundits often criticize efforts towards acquiring a college degree, describing it as a frustrating, debt-accumulating venture. Additionally, there has been the negative perspective that students do not acquire skills in college rather it is a 'partying' venture to pay for a degree.
This paper examines the whether the benefits towards acquiring a degree outweigh the effort and cost.
DisadvantagesA research study by New York Fed reveals that tuition for a four-year college education in a private and public school costs approximately $45000 and $19000 respectively. These figures represent a significant increase in the cost of education over the past 25 years totaling over a 100% increase. Parents and students often resort to using personal savings and student loans to meet the high costs of college education. Resultantly, in 2014, student debts rose to an unprecedented amount of 1.2 trillion. Unfortunately, the high cost of education does not translate to higher wages. Researchers reveal that over 7% of college graduates suffer from unemployment and approximately 15% of them are underemployed.
Advantages
Despite the challenges of student debt, unemployment and underemployment, protagonists of college education are confident that college education is crucial. Researchers from the Federal Reserve Bank of San Francisco state that it may take a college graduate less than 20 years to pay off his student loans. In regards to earnings, studies reveal that college graduates earn more than high school graduates. According to the United States Census Bureau,college graduates earn approximately $55,700 annually while high school graduates earn $32,500 annually. The wage amounts increase with the level of education with PhD holders garnering at least $100,000 annually. The area of study also affects wage amount. Majors in science, technology, engineering and math are the most lucrative. A study by Georgetown University Center on Education and the Workforce revealed that a holder of a lucrative college major can earn upwards of $3.4 million in his lifetime.
A college degree increases the marketability of a graduate. Most job opportunities require an applicant to possess a college degree as a prerequisite to qualify for the position. High school graduates are more likely to begin their careers at entry level positions for semi-skilled or non-skilled work. Additionally, jobs requiring college graduates usually have more opportunities for career advancement, and work benefits such as health insurance. This increases the likelihood of job satisfaction.
The college experience also assists a graduate to develop a network of academicians and professionals who come in handy in advancing career goals. Colleges also offer opportunities for students to engage in internships, apprenticeships and job transition programs. These opportunities build the knowledge and experience of the student and make him more attractive in the job market. The college experience equips students with critical thinking and problem solving skills that are vital as they advance in their careers.
The Great Recession ravaged the job market with increase in layoffs. During such moments of economic distress, the people most susceptible to layoffs are semi-skilled or unskilled employees. Having a college degree attracts job opportunities that are stable
during recessions. Job stability also allows for future planning in regards to personal goals or investment opportunities.
ConclusionCollege may not be for everyone. Some moguls in the business world have excelled exceedingly well despite not having a college degree. However, it is important to remember they are the exception to the rule. The job market is more inviting to college graduates as compared to high school graduates. Degree holders enjoy better earning jobs, with good benefits and job stability.