The Benefits of College Outweigh the Costs

TheBenefits of College Outweigh the Costs

Inthe recent time, the cost of completing college education has risen.However, it has been evidenced that upon graduation, graduates end upearning less. These trends have made most critics to question thevalidity of college education, and its contributions in terms ofinvestments. Nevertheless, advocates of college education have arguedthat in spite of the increasing tuition fees and declining wages, acollege degree still remains a valid investment and outweighs thecosts. The current paper supports this claim.

Oneof the factors to support this is that attending college guaranteesfinancial benefits. In today’s world, students are advised that inorder to succeed in life, they must pursue a degree. This enablesthem to get good and high paying jobs after graduation therefore,living the American dream. In order to achieve that, the majority ofstudents have resulted in securing loans with the intention ofoffsetting the costs involved to attending college. It is true to saythat this reasoning is sound. Certainly, as research has revealed,most degree holders end up obtaining more attractive jobs compared totheir counterparts high school diploma holders. Although wage ratehas been falling over the years, this has affected employees at alllevels. In general, since 1970’s economic analysis has evidencedthat bachelor’s and associate’s degrees earn a return ofapproximately 15 percent.

Inaddition to that, the Federal Bureau of Labor Statistics has reportedthat attending college helps in reducing the rate of unemploymentamong graduates. This means that there is a high rate of gettingemployment. For instance, in 2009, college graduates had a lower rateof unemployment of 4.6 per cent, as matched up with 9.7 per centamong high school diploma holders. Therefore, whilst college isdeemed costly, its long term returns are high. This claim issupported by the fact that while the contemporary job market does notsimply guarantee a good job for degree holders the economicrecession, increasing unemployment levels, as well as stiffcompetition have made employers to add novel minimum requirementswith the aim of limiting application pool. It has been evidenced thatan entry position job in the present day necessitates a minimum ofbachelor’s degree. That is unlike two decades ago when suchpositions could be filled by persons with a high school diploma.

Further,holding a college degree is the only way through which a person cancontinue with his/ her postgraduate studies. This means that theformer acts as a stepping stone. Postgraduate degrees are evidencedto offer bigger payoffs. For instance, students may decide tocontinue with their masters or doctorate degrees, after which theycan get promoted in their jobs therefore guaranteeing greaterreturns.

Lastly,other than the education part of it, college also helps in instillingaptitudes skills among students. This, among other characteristics,assists students to become different from their counterparts whonever got a chance to attend college.

Byand large, it is true to say that in the long-term, the benefits ofattending college outweigh the costs involved. It is associated withhigher wages, becoming competitive in the job market, as well asgaining aptitude skills among others. Therefore, individualsintending to join colleges should look at the long-term benefitsrather than the short-term ones. Indeed, college education is a soundinvestment.