College Education: Worth the Money and Time? - Essay Sample

Introduction

In today's highly dynamic and complex global network, it is undeniable that college education is worth the money and time. It is the key to a successful life, particularly in the highly competitive global job markets where relevant knowledge and skills are a mandatory prerequisite for career opportunities. People who argue that college is worth it explains that college graduates have higher employment rates, bigger salaries, and more benefits. On the other hand, those who tend to argue that college education is not worth it, think that debt from college loans tends to delay them with saving money, buying a house or car, or several other things because the college loan is the priority to ensure that one stays on track to get it paid off in the given time. This paper argues that college education is worth the investment because it helps to attain a career, a higher salary, and provides a stable future.

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It is essential to acknowledge that education plays a vital role in bringing success to all scopes of life. It opens the doors to opportunities at an appropriate time. Different levels of education yield diverse opportunities regarding the nature of training an individual gets. In most cases, most jobs require some college degree. Research shows that if a person gets a college education, there are more chances to get a job with further possibilities to climb the career ladder (Daly & Bengali, 2014). Besides, students acquire the necessary skills, knowledge, and attitudes required to obtain a well-paying job, which enhances the opportunity for them to receive a promotion at their job. It is also worthwhile noting that education is the basis and the foundation of all developments that people enjoy today. In line with this, it imparts a lot of knowledge of human beings. However, there are different ways in which people may use such knowledge to attain certain levels of independence as well as success.

Daly and Bengali

Daly and Bengali (2014) argued that the reason most people go to college is to make them more viable to prospective job providers. Today, employers prefer individuals with a higher degree. Whether it is an associate, bachelor's, or master's degree, when one tries to apply for a job, the employer would consider someone with a degree to someone without one. However, the purpose of a college education is not just for individuals to be ready to help a person look at the bigger picture and make proper decisions in advance. During the school days, a person remains immature, and thus it keeps them away from all the pressing matters of the society as well as within their home. However, as these people go to college, they are regarded as 'adults' by society, and they are considered responsible citizens (Daly & Bengali, 2014). Therefore college education makes one think thoroughly, solve issues innovatively, interact efficiently, have a width of perception entrenched in knowledge and cultures, and ideas diverse than the person's notions. Ultimately it helps a person recognize the means of learning for life.

Webber

In context, Webber (2016) stated that life comprises so many aspects, such as family, friends, society, profession, colleagues, and environment, and college education makes a person prepared for their professional life as well as other equally important aspects. The knowledge imparted through a college education is an asset for the entire experience and not just for fetching a good salary. A college education also positively affects one's social being. The student gets a chance to meet with other people of their age and experience the type of fellowship that is borne out of sharing pains and joys, sufferings, successes, and failures. The network that is formed here can only add value to the student's life, for it may be the means through which the student meets persons that may assist in future job hunting or promotions (Webber, 2016).

Federal Research Bank of New York

According to a study conducted by the Federal Research Bank of New York, the average college graduate earns a salary of over $30,000 more than an average worker with only a high school diploma (Leonhardt, 2014). However, not all college graduates get to experience these different types of salary benefits. A survey based on the comparison between the earnings of a college graduate and a high school graduate states that a particular college graduate receives an estimated amount of $650,000 additional than a general high school graduate person throughout a work-life of 40-years (Leonhardt, 2014). Besides, the National Center for Education Statistics reveals that the average total cost for students living on-campus at four- year public, in-state universities, was $24,320 in 2017-2018. For private, for-profit universities, that cost was $32,244. Student loan debt is the highest it has ever been (Leonhardt, 2014). The average price of college tuition has more than doubled in the last 30 years. As students across the country begin their college lives, many are also saying hello to something that could follow them long after graduation, i.e., student loans. Individuals arguing differently about college loans are not worth the cost think that student loan debts tend to make graduates live with their parents until they can move out or, most importantly, hold them back from being financially stable without worrying about paying any loan back.

One thing that many people talk about while talking about whether a college education is worth it or not is considering the type of pay one makes before choosing a program. If one wants something that they think will enjoy doing, but the cost is too high, they will be taking on more student loan debt than they cannot afford to pay off when they get out in the field and start their career. According to Webber (2016), the most important thing to consider when going to college is to remember what one studies matters. What one specializes in has a significant impact on what will be earned in a lifetime. What one chooses to consider is what is determined to be taken as a career path, which means what one will make as a paid salary for the rest of that career. Therefore, one should not just jump in and study anything. It is essential to take a little time and carry out some research about the course to be considered because enjoying the job plays a huge role in an individual's life.

Conclusion

In conclusion, the need for a college education is on the rise in the world, where it is believed it opens more opportunities to graduate. Different levels of education bring forth various opportunities concerning the nature of training an individual gets. There are many doors to be opened when having a degree, along with higher-paying jobs, and promotions. With a degree, one can apply to any situation of interest, depending on the qualifications. Also, the salaries for college graduates are relatively higher. The rate of unemployment for college graduates is also significantly lower. However, college education has some challenges, including high cost and a lack of seriousness from some students. If well utilized, a college education opens opportunities for students to enjoy a good living.

References

Daly, M. C., & Bengali, L. (2014). Is it still worth going to college? FRBSF Economic Letter, 13, 2014. https://www.frbsf.org/economic-research/publications/economic-letter/2014/may/is-college-worth-it-education-tuition-wages/

Leonhardt, D. (2014). Is college worth it? Clearly, new data say. The New York Times, 27. https://www.nytimes.com/2014/05/27/upshot/is-college-worth-it-clearly-new-data-say.html

Webber, D. A. (2016). Are college costs worth it? How ability, major, and debt affect the returnsto schooling. Economics of Education Review, 53, 296-310. https://econpapers.repec.org/article/eeeecoedu/v_3a53_3ay_3a2016_3ai_3ac_3ap_3a296-310.htm