Throughout the years people are constantly questioning the worth of a college degree. 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 [school year] 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 a study done through the college board, shows the rising tuition costs as well as the expected costs in the coming years (Ma). As you can see the cost of college doesn’t remain the same; it is constantly increasing. The current price of college tuition has never been this high and families are trying to find a way to deal with it. 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 enough 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 feel that they are losing applicants, colleges are not doing anything to lower the costs because they know that they will enroll enough students and make profits for their colleges. The higher level education system has become a business. They are more focused on making a profit then assuring all students can attend college and get a proper education to be successful (Samul 5:35-5:37). Which brings the question if college is even worth the hassle? Many people believe that they do not need a degree if they already have a job, or can get in with a family business. These options may only be temporary, since it likely smaller business may go bankrupt or have minimal profits. That then leaves the student later in life without a higher education and looking for employment. 

Back in 1980s 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 the many more cliché sayings surrounding college. Comparing the cost in numbers to now it is clearly much lower, but relative to the time period and the cost of living 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”. It is unfortunate that current tuition and cost of living are forcing students to work while completing a degree, but they are putting their money in the right place. The students struggling to make the decision to attend college need to know that their investment and current stressors will pay off in the future.  

There are many resources to help with the cost of college such as, student loans, scholarships, and federal aid. The FAFSA, 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 FAFSA is filled out yearly and based on household income and different 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 college 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.  There are thousands of scholarships offered each year around the globe for many different majors, interest, and talents. However, it is the responsibility of the student to apply themselves and compete for scholarships and apply for aid. If a student were not to qualify for any scholarships or financial aid, there are student loans open to all students that are too facing the temporary college debt. Student loans can be found on many different banking and top industries websites. For example, common student loans people take out are through their bank or credit card companies. The time spent to apply for these financial aids, to help reduce student debt, is worth the benefits associated with a college degree. 

College degrees are 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 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). 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. Another perk of being employed is the retirement plans, and health and life insurance most employers offer. Having a degree will help a person and their family have ability to these necessities offered by a majority of employers. 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” (10:05). People who drop out report having a harder 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 money spent and debt acquired. 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” (297). 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 higher 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).  Figure 3 above provided in Jaison Abel and Richard Deitz’s journal 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 (2). 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 completed 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. If a student can only complete a two-year degree that is better than no degree, but based on figure 3 above and research collected by the Federal Reserve it is the bachelor degree and higher that should be the goal students should reach for (Abel). Figure 3 proves a person with a bachelor degree is making nearly 20,000 dollars more a year compared to a person with only an associate (two-year) degree in 2013; but the associates degree is still making about 10,000 more than no degree (Abel). 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. Many four year colleges offer over hundreds of organizations meeting interest and talents of a majority of students. These clubs provide an area of personal development in areas such as independence, growing a network, time management, and social skills (Preffer).  If a student were not to go to college they would not have availability to these same 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, most employers look for experience and involvement that will benefit a company that can be found from being a part of organizations. 

Colleges help their students find different internships and jobs that can build a resume.  For example, the University of South Carolina offers the student success center that helps with not only academics but provides a resource to find other ways to get involved on and outside of campus. 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 connected to a decreased rate of smoking and obesity, as well as increased rates of health insurance coverage, volunteer work, and exercise (Ma).  Based on a study done in 2012, individuals 25 and older with a bachelor degree are only 8% likely to smoke, while those with only a high school degree or lower are 25% likely to smoke (Preffer). The same study showed that four- year college graduated are 28% more likely to exercise vigorously at least once a week (Preffer). 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 further 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 temporarily fund and lower costs of getting a degree such as scholarships, the FAFSA, student loans. These resources are important to utilize because dropping out is worse than taking out more loans. Not only does a degree provide a higher net income and better chances for being employed, it is related to benefiting a person’s health and life experience. When making the decision to obtain a degree it is clear the temporary debts acquired will be outweighed by the living situation in the future. 
