Why College is Worth the Investment
There is no doubt that Covid has changed not only our personal world, but also the world of higher education. There has been a decline since 2019 of students attending college. This could be because of the lack of in-person learning opportunities or due to student and parent’s economic struggle. According to NPR, there are more than 1 million fewer students in college since the beginning of the pandemic (Nadworny, 2022). Tuition and fees have gone up 180% just in the last twenty years. The average student loan debt across America is about $33,000.
This begs the question, is college even a worthwhile investment? I strongly believe the answer is, yes.
These stats might scare you, but consider these:
Nearly 70% of all jobs will require at least a Bachelor’s degree, according to Georgetown University’s study on job openings (2020).
College graduates earn almost twice the amount of those without continuing education after high school.
More likely to get health insurance.
Unemployment rates are twice the amount for high school graduates compared to college graduates (Bureau of Labor Statistics, 2021).
Though college tuition is increasing, the benefits still outweigh the cons. The rate of return is still very high. Preston Cooper says, “For students who graduate on time, the median bachelor’s degree has a net ROI of $306,000. But some degrees are worth millions of dollars, while others have no net financial value at all” (Cooper, 2021).
So as you consider whether college is worth the investment, remember that college degrees are still highly valued. You can’t put a price on the connections that you can make with your peers and professors to land the right job. The community that comes along with college will always be worthwhile. So if you are college bound and ready to make the investment, consider getting some help to lower your student loan debt.
References:
Carnevale, A., Smith, N., & Strohl, J. (2022, February 15). Georgetown University Center on Education and the workforce. CEW Georgetown. Retrieved February 17, 2022, from https://cew.georgetown.edu/
Cooper, P. (2021, October 20). Is college worth it? A comprehensive return on investment analysis. Medium. Retrieved February 17, 2022, from https://freopp.org/is-college-worth-it-a-comprehensive-return-on-investment-analysis-1b2ad17f84c8
Labor Statistics, B. of. (2021, April 7). Unemployment rate 3.7 percent for college grads, 6.7 percent for high school grads in March 2021. U.S. Bureau of Labor Statistics. Retrieved February 17, 2022, from https://www.bls.gov/opub/ted/2021/unemployment-rate-3-7-percent-for-college-grads-6-7-percent-for-high-school-grads-in-march-2021.htm
Nadworny, E. (2022, January 13). More than 1 million fewer students are in college. here's how that impacts the economy. NPR. Retrieved February 17, 2022, from https://www.npr.org/2022/01/13/1072529477/more-than-1-million-fewer-students-are-in-college-the-lowest-enrollment-numbers-
