
The decision to attend college is constantly changing throughout decades. Years ago very few people attended college; now a bachelor’s degree is expected by almost all high paying employers. Along with the demand of a bachelor’s degree is the outrageously high tuitions and enrollment- causing for higher selectivity in degree programs. Applying to college then becomes a stress with having to be in the top percent to get in, and once you are in making the financial obligation for the next four or so years. So is a college degree worth the time, effort, and money? For many this is a hard decision and leaves many college students investigating the worth of a degree and the consequences that come along. Although the tuition of college tends to rise each year, college degrees are worth the investment, due to predicted income and social benefits in the future. 

High school students tend to start looking to plan for life after high school around junior year. The many that look into a four- year university have numerous different things to consider. Each person and family values different things in colleges: some being the degree program, location, size, and what tends to be the largest deciding factor for most middle and lower class families is the cost. Tuition for colleges has raised drastically in the past years. It has been recently released that, “The average published cost of in-state tuition and fees for 2015-16 at four-year public colleges and universities was $9,670, according to the College Board. The average for private, nonprofit four-year colleges was $33,180” (Carrns). Figure 1 above, provided by study done by the college board, shows the rising tuition cost as well as the expected cost in the coming years (Ma). The current price of college tuition is rising from year to year and in the past it was not as high. With that being said, “since 1985, U.S. college costs have surged by about 500 percent, tuition fees keep rising” (Noack). The need for a college degree is so essential that universities are driving up the cost knowing they will find credential students to pay. This driving cost is affecting the decisions middle and lower class students are making on where to attend college due to the idea of student debt. According a recent Gallop poll, “87 percent of admissions directors of private colleges and 51 percent at public colleges say they're losing potential applicants because of fears about accumulating student loan debt” (Giordano). Although they may be losing some applicants, top degree programs still have an abundance of students, because the lower and middle class students are looking to more economic friendly options. Some middle and lower class families are struggling to decide if it is worth sending their child to a top school; and unfortunately some potentially academic excellent students are lowering their standards and attending a school that cost less, such as a community college. 

Back in 1985 college tuition was seen as a reasonable price for the benefits received after college. College was known as the “greatest four years in life”, “a home away from home”, and many more cliché sayings surrounding college. Comparing the cost in numbers to now it is clearly much lower, but relative the time period college has always been an investment for most. Now people may still think a typical college student, “lies in a state of bliss, spending each day moving among classes, parties and extracurricular activities” (Mellow). Although this is the case for some students there is, “over half of all undergraduates living at home to make their degrees more affordable, and a shocking 40 percent of students that work at least 30 hours a week. About 25 percent work full-time and go to school full-time” (Mellow). So many of these people are finding college to be more of a stressor, than the “best years of their life”. These students need to realize that the price for a degree is worth the debt they may have to face for several years after college if they obtain a degree, and there are many aids to help economically support a degree. 

There are many resources to help with the cost of college, such as student loans and federal aid. The FASFA, short for Free Application for Federal Student Aid, is the, “gateway for most financial help for college students, including federal grants and subsidized student loans” (Carrns). The FASFA is filled out yearly and based on household income and situations. The application is short and easy, providing money without having to fill out all the essays like scholarships.  Student debt reached a record $1.3 trillion this past year, which is causing students to fear taking on the expense of a college degree (Giordano). These cost can be anything from tuition, room and board, meals, book, and other expenses. Student debt has recently become the second largest source of personal debt in the United States (Maxfield). These statistics make it seem that a college degree is out of reach for the lower class Americans; however, “grants and scholarships have increased at a faster pace during this same period, thereby offsetting much of the perceived growth in cost, there's clear proof that a college degree is worth the investment of both time and money” (Maxfield). Other ways to avoid some cost of college is completing college courses while in high school, or taking Advanced Placement (AP) classes and scoring well on the exam to receive credit. Both options are more economically friendly than paying tuition at a university. AP is a nationwide organization so it can allow for the credit received to count towards many schools. It is the responsibility of the student to apply themselves and compete for scholarships and apply for aid. The time spent to apply to help reduce student debt, is worth the benefits associated with a college degree. 

College degrees is seen so important that some countries’ government are even paying their students to attend. For example, a student came to study abroad in the United States from Denmark and states that, “Everything was so much more expensive at U.S. colleges than at home” (Noack). Danish citizens do not have to pay any tuition fees, and receive about $900 a month for living expenses (Noack). This method for higher education, much different than the United States, is clearly paying off.  Back in Denmark, Danish universities have one of the highest graduation rates among all organizational for Economic Cooperation and Development (OECD) member countries and its citizens are practically free of student debt (Noack). Seeing the affect one factor, in this case money, has on education rates is astonishing. Clearly price and money is a very important element to daily life and education, and other governments are finding ways to make college more affordable for their students. This policy demonstrates the importance of a degree in other countries and our country is using scholarships, loans, and grants to make college more affordable for its’ citizens.  Unfortunately, in the United States our government is not giving the same aid as in Denmark, but this does not change the importance a college degree.

An adult with a college degree is more likely to receive a job over a someone who does not. This is seen in a study done by the United States census bureau in 2015 that, “The unemployment rate also drops with each degree obtained, from 5.4 percent for high school diplomas to 2.8 percent for a bachelor's, to 1.7 percent for a doctorate” (Giordano). Figure 2.21 depicts this information showing that throughout the past two decades’ adults with a degree has always had an unemployment rate less than those with only a high school degree (Ma). The graph above even shows that while our country faced a recession around 2010, those with a degree still remained more employed than those without one (Figure 2.21). Finding a job is crucial, especially when the most recent survey conducted by the Federal Reserve revealed that the gap between the richest and poorest Americans is continuing to expand (Maxfield). A higher education allows for distinct differences when employers are examining applications. Most jobs even require certain degrees in order to even be considered. A degree is proven to enhance the chances of a person being employed over a person with only a high school degree or less. 

College is leaving many students in debt, but the return is worth the investment of the degree. For those who do graduate college and obtain a bachelor’s degree, analysis show it takes about 10 years to recoup the costs (Maxfield). However, those who do invest in college, but do not complete their degree, known as dropping out, are not in the same situation. Sajay Samuel presents in this TED talk that, “college is only worth it if you complete it.” People who do drop out report having a hard time financially then those who never went at all (Giordano). When a person drops out of college they do not have the degree that will provide a larger income to make up for the debt spent. It is important to use the resources of the FASFA, student loans, and the thousands of scholarships if the cost is becoming a problem. Douglas Webber, the director of the economics master’s degree program at Temple University, released a research paper regarding the cost and benefits of a degree concluded his paper stating, “I find college is almost always the right financial decision in term of expected value of lifetime earnings.” His finding supports the argument of this paper. College is worth the money; it is one of the smartest investments to make because it provides increased income for the rest of a persons’ working life. 

A college degree is an investment in predicted income for future job wages. Based on many studies completed by top analysist it has been noted that a college degree is correlated to high wages. A four-year college degree is likely to double the typical person’s annual income, compared to a person without a high school degree (Maxfield). The figure above provided in Jaison Abel and Richard Deitz’s paper regarding the benefits of college, proves that income of those with a degree is always above those without one from 1970 to 2013 and continuing. It is interesting the gap between associates (two-year) and bachelors (four-year) degrees are so different, proving high paying employers are looking for those with the most qualification and experience. Due to research done like this graph it can be inferred that obtaining a degree will increase the chances of being paid more than without one. In another article released by Gail Mellow, the president of LaGuardia community college, stated that the students who attend her school work extremely hard and a two-year degree can earn students nearly 20 percent more annually. This statistic is very similar to the data shown in the table. The increased income is the way that graduated students are able to pay off the debt they might have incurred to obtain a degree. Not only does going to college provide a student the opportunity to get a degree; but college has been correlated to benefiting a person in many other ways. 

As seen college correlates to increased income, but it also can lead to many other societal and personal benefits. Some organizations offered on college campuses are student government, sorority/ fraternity life, community service organizations and many others. For example, those who join a club are meeting and interacting with other adults about something they have a common interest. If a student were not to go to college they would not have availability to these opportunities. Being a part of organization creates a network of people that can open the doors to opportunities to further a career. Along with degree, some employers look for experience that will benefit a company. Colleges help their students find different internships and jobs that can build a resume. Not only does college benefit a person socially and professionally, it has also been correlated to benefit a person’s health. A college degree has been correlated to a decreased rate of smoking and obesity, as well as increased rates of health insurance coverage, volunteer work, and exercise (Ma). These daily activities are just a few of the many things a college degree has to offer. Overall a college degree and experience does more than future an education, which is why it is necessary to pay the tuitions to obtain a degree. 

A college degree may seem unattainable due to the rising costs of tuition. However, the investment is worth it. People invest money in a variety of things each day. From stocks, to betting on sports teams, but the best investment one can make is on an education. Investing money in something that is almost guaranteed to improve standard of living has much better chances than a poker game. The return rates of expected income with a college degree is known to outweigh the debt most students are forced to face. There are many resources to support the funding of a high education. Committing time and money to an education is a lot of work so the person needs to dedicate themselves so they do not drop out. Receiving an education will most likely provide that person with increased income for the rest of their working career and allow for much more opportunities, such as travel and luxuries. A college degree is known to be correlated with many other social and personal benefits, such as lower rates of obesity and smoking.  The negative connotations of obtaining a degree at the time of going to college is worth the living situation in the future.  
